Basic Assumptions, Frinciples, and Terminology in the Conceptual Framework

For each description, select the correct key term.

Descriptien

a$.$ Refers to whether or not a partioliar amount is laye enough to affect a decosion.

b$.$ The activites of a business are corsidered so be independent and dianct from those of fs owners or from other companies. C$.$ Accounting information should enable users to identify simlarities and afferences befieen sets of economic phenomena. d$.$ Frawoul repo$-$ting information must be avallable to decision malars before R loses its capacty to influence decisions.

e$.$ indormation is undeff if has the where infl ener trittion:

$5.$ Comenas arong meanores assures that the informanosis free of ever.

Mater

E$.$ Accountry information should refect the underlyig economs equit that R purports to meance.

h$.$ The financial reports are preserted in one consistert movetary unit, such as us$.$ dollars.

if The life of a turiness con be divided into discrets accourting periods such as a peargr gaugher