Current Attempt in Progress

Match the items below by entering the appropriate terms in the space provided.

Accounting basis in which companies record amounts in the periods in which the

events occur rather than in the periods in which the company receives or pays cash

An assumption that the economic life of a business can be divided into artificial

time period

Expenses incurred but not yet paid in cash or recorded

The principle that companies recognize revenue in the accounting period in which

they perform the services

The most basic form of journal

The principle that dictates that companies match efforts $($expenses$)$ with

accomplishments $($revenues$)$

Accounting basis in which a company records revenues only when it receives cash

and an expense only when it pays out cash

A list of accounts and their balances at a given time

Income statement accounts whose balances are closed at the end of an accounting

period.