LO $3\mathrm{.}1$Match the correct term with its definition.

A$.$ cost principle i$.$ if uncertainty in a potential financial estimate, a company should err on the side of caution and report the most conservative amount

B$.$ full disclosure principle ii$.$ also known as the historical cost principle, states that everything the company owns or controls $($assets$)$ must be recorded at their value at the date of acquisition

C$.$ separate entity concept iii. $($also referred to as the matching principle$)$ matches expenses with associated revenues in the period in which the revenues were generated

D$.$ monetary measurement concept iv$.$ business must report any business activities that could affect what is reported on the financial statements

E$.$ conservatism v$.$ system of using a monetary unit by which to value the transaction, such as the US dollar

F$.$ revenue recognition principle vi$.$ period of time in which you performed the service or gave the customer the product is the period in which revenue is recognized

G$.$ expense recognition principle vii. business may only report activities on financial statements that are specifically related to company operations, not those activities that affect the owner personally