Question: Match each description with the characteristics, assumptions, principles, and constraint that guide the FASB when it creates accounting standards. Items not easily quantified in dollar
Match each description with the characteristics, assumptions, principles, and constraint that guide the FASB when it creates accounting standards.
Items not easily quantified in dollar terms are not reported in the financial statements.
Accounting information must be complete, neutral, and free from material error.
Personal transactions are not mixed with the company's transactions.
The cost to provide information should be weighed against the benefit that users will gai
A company's use of the same accounting principles from year to year.
Assets are recorded and reported at original purchase price.
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