Pair each item from the first Colom with the item on the second column

.

C. 1. Comparability 2. Comprehensive income 3. Confirmatory value 4. Consistency 5. Cost effectiveness 6. Distribution to owners 7. Economic entity assumption 8. Expense 9. Faithful representation 10. Full disclosure principle 11. Gain 12. Going concern assumption 13. Historical cost principle 14. Materiality 15. Monetary unit assumption 16. Neutrality 17. Periodicity 18. Predictive value 19. Revenue Recognition 20. Relevance 21. Timeliness 22. Understandability 23. Verifiability a. Agreement between a measure and the phenomenon it purports to represent. b. Applying the same accounting practices over time. Concerns the relative size of an item and its effect on decisions. d. Decreases in equity resulting from transfers to owners. e. Implies consensus among different measurers. f. Important for making interfirm comparisons. g. Increases in equity from peripheral or incidental transactions of an entity. h. Inflation causes a violation of this assumption i. Information confirms expectations. j. Information that could affect decision making should be reported k. Information is available prior to the decision. 1. Information is useful in foreseeing the future. w. Pertinent to the decision at hand. m. Outflow of an asset related to the production of revenue n. Relates to the qualitative characteristic of timeliness 0. The entity will continue indefinitely p. Criteria usually satisfied for products at point of sale 4. Requires consideration of the costs and value of information. The absence of bias. The change in equity from nonowner transactions. All economic events can be identified with a particular business or owner The basis for measurement of many assets and liabilities v. Users understand the information in the context of the decision being made. r. S. t. u