Conceptual Framework Question 3 (5 points) Saved Match the correct characteristic, concept, assumption or constraint for the following. 1. The requires that companies record revenue in the accounting period in which the performance obligation is satisfied. consistency 2. The process of determining the amount that should be recognized is called 1 v revenue recognition principle reporting entity concept 3. The requires that the personal activities of an owner and the business activities of his/her company are kept separate and distinct from one another. going concern assumption measurement 4. The assumes that the entity will continue to operate for the foreseeable future. 5. When companies use the same accounting principles and methods from year to year, this is referred to as