Question: Match the items below by entering the appropriate code letter in the space provided. A Periodicity B. Cash basis C. Economic Entity Assumption D. Prepaid
Match the items below by entering the appropriate code letter in the space provided. A Periodicity B. Cash basis C. Economic Entity Assumption D. Prepaid expenses E Accrual basis F Deferred revenues G. Depreciation H. Post-closing trial balance 1. Accrued liability J. Going Concern Principal AA. E. E. Events recorded only in periods the company receives or pays cash Expenses paid before they are incurred B.B. The business will continue in operation long enough to carry out its existing cc. objectives D.D. The economic life of a business can be divided into artificial time periods Transactions are recorded in the periods in which the events occur. Includes only permanent-balance sheet-accounts G.G. Economic events can be identified with a particular unit of accountability HH. Cash is received before revenue is earned Expenses incurred but not yet paid A cost allocation process Periodicity Cash basis Economic Entity Assumption Prepaid expenses Accrual basis Deferred revenues Depreciation Post-closing trial balance Accrued liability Going Concern Principal F.F. V d. J
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