Question: 4.5 points Save and Presented below are several qualitative characteristics, accounting principles, assumptions, and constraints. Match the letter of each with the appropriate statement. Don't

 4.5 points Save and Presented below are several qualitative characteristics, accounting

4.5 points Save and Presented below are several qualitative characteristics, accounting principles, assumptions, and constraints. Match the letter of each with the appropriate statement. Don't use a letter more than once. Characteristic that permits users to identify similarities in and differences A Periodicity assumption between two sets of economic phenomena. B Faithful representation F Information that is capable of making a difference in the decision of users in their capacity as capital providers. C.Expense recognition principle The basic assumption/principle that makes depreciation and amortization D. Verifability policies justifiable and appropriate. E Monetary unit assumption A company provides supplementary information to explain the effects of financing arrangements. Relevance The principle/assumption that implies that officers salaries are most often GTimeuness charged to the current period and not carriea into future periods. He Going concern assumption Bv Characteristic that assures users that information represents the economic phenomena that it intends to represent Understandability 1 Characteristic that allows users to comprehend the meaning of the Comparability information. K Revenue recognition principle The principle/assumption that implieithal economic activity anbe Identified with a particular unit of accountability L. Full disclosure principle The principle assumption that is applied when a company reports and on its MEconomic entity assumption statement of financial position at the amount paid to acquire it even though the estimated fair value is greater N costi principle

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!