Matching

A$.$ Generally Accepted Accounting Principles $($GAAP$)$

B$.$ Cost Principle

C$.$ Matching Principle

D$.$ Business Entity Assumption

E$.$ Accounting

F$.$ Monetary Unit Assumption

G$.$ Financial Accounting

H$.$ Revenue Recognition Principle

I. Going$-$Concern Assumption

J$.$ Time Period Assumption

K$.$ Managerial accounting

$1$

Transactions and events are expressed in monetary, or money, units.

$$ Reflects assumption that the business will continue operating instead of being closed or sold.

$3.$ A branch of accounting that focuses on financial reporting for external users.

$4.$ The concepts and rules that govern financial accounting in an effort to make information relevant, reliable, and comparable.

$5.$ Revenue is recognized when earned and proceeds need not be in cash

$6.$ The life of a company can be divided into time periods, such as months and years.

$7.$ A branch of accounting that focuses on reporting for internal users.

$8.$ Accounting information is based on actual cost. Actual cost is considered the objective.

$9.$ A business is accounting for separately from other business entities, including its owner.

$10.$ A company must record its expenses incurred to generate the revenue reported.