Match the statement with the correct assumption principle or concept

DUPSGup http:/ C | UPS Air Group MTest1- ch.1,23 Econnect Acct. 301 Online Fall, 2016 301-504 ACCOUNTING ch. 1,2.3 Question 4 (of 12) dentily the assumpion. principle, or concept that relates to each statement or phrase below 1 Inflator, cases a volabon of this assumption 2 Information that could affect decision making should be reported Recognizing expences in the period they were incurred to produce revenue 4 The basis for measurement of many assets and sablities 5 Relates to the quattatre characterste of neinesa 6 All economic events can be identied with a partcular entity Conservatism Cost effectiveness Economic entity assumption Expense recognition h#disclosure prindple Going concern essumption Historical cost principle Materia Monetary ait assamption 7 The beneits of 7 The benefits of pro ang accountrgirlrmation should exceed the eest of doing so 8 Aconsequence is that GAAP need rot be folosed n aEtuations Not a qualitative charactenistic but a practeal justficaion for soma