P4. Listed below are several information characteristics and accounting principles and assumptions. Match the letter of each with the best phrase that states its application. (Items a through k may be used more than once or not at all.) a. Economic entity assumption g. Expense recognition principle b. Going concern assumption h. Full disclosure principle c. Monetary unit assumption i. Relevance characteristic d. Periodicity assumption j. Faithful representation characteristic e. Historical cost principle k. Consistency characteristic f. Revenue recognition principle 1. Stable-dollar assumption (do not use historical cost principle). 2. The performance obligation is satisfied. 3. Numbers and descriptions match what really existed or happened. 4. Yearly financial reports. 5. Useful standard measuring unit for business transactions. 6. Notes as part of necessary information to a fair presentation. 7. Affairs of the business distinguished from those of its owners. 8. Company assumed to have a long life. 9. Valuing assets at amounts originally paid for them. 10. Application of the same accounting principles as in the preceding year. 11. Summarizing significant accounting policies, 12. Presentation of timely information with predictive and confirmatory value