Question: isted below are several terms and phrases associated with basic assumptions, underlying principles, and constraints. Pair each item from List A ( by letter )
isted below are several terms and phrases associated with basic assumptions, underlying principles, and constraints. Pair each item from List A by letter with the item from List B that is most appropriately associated with it
A common denominator is the dollar.
Record expenses in the period the related revenue is recognized.
The life of an enterprise can be divided into artificial time periods.
All information that could affect decisions should be reported.
The enterprise is separate from its owners and other entities.
The original transaction value upon acquisition.
The entity will continue indefinitely.
Concerns the relative size of an item and its effect on decisions.
Criteria usually satisfied at point of sale.
Match each of the options above to the items below.
Economic entity assumption
No answer
Monetary unit assumption
No answer
Going concern assumption
No answer
Matching principle
No answer
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