Question: 1. Match the items below by entering the appropriate code letter in the space provided. A. Periodicity assumption F. Accrued revenues B. Cash basis G.
1. Match the items below by entering the appropriate code letter in the space provided. A. Periodicity assumption F. Accrued revenues B. Cash basis G. Depreciation C. Revenue recognition principle H. Post-closing trial balance D. Prepaid expenses I. Accrued expenses E. Expense recognition principle J. Bookvalue 1. Events recorded only in periods the company receives or pays cash 2. Expenses paid before they are incurred 3. Cost less accumulated depreciation 4. The economic life of a business can be divided into artificial time periods 5. Efforts are related to accomplishments 6. Includes only permanent-balance sheet-accounts 7. Revenue is recognized when earned 8. Revenues earned but not yet received 9. Expenses incurred but not yet paid 10. A cost allocation process
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