So the question asks us to "Match each transaction or definition with its related concept by selecting the appropriate letter in the drop down menu."

20. "Acquired an asset (a pencil sharpener that will have a useful life of five years) and recorded it as an expense when purchased for $1.99."------S. What is materiality threshold? Why this statement can refer to it?

16. "Paid a contractor for an addition to the building with $15,000 cash and $20,000 market value of the stock of the company ($35,000 was deemed to be the cash-equivalent price)."----R, why it is listed as cost under principles ? I think it can also be assets (buying the building).

Transactions/Definitions m (1) (2) L D (3) (4) 1 > M w (5) (6) (7) (8) B SO Q A H Concepts Users of financial statements Objective of financial statements Qualitative Characteristics Relevance Reliability Assumptions Separate entity Continuity Unit of measure Time period Elements of Financial Statements Revenues Expenses Gains Losses Assets Liabilities Stockholders' equity Principles Cost Revenue Matching Full disclosure Constraints of Accounting Materiality threshold Cost effectiveness Conservatism constraint Special industry practices (9) (10) (11) (12) (13) (14) (15) U J G V R K (16) (17) (18) (19) N SO T 02 (20) (21) (22) (23) P F