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1. (TCO A) Listed below are several information, characteristics, and accounting principles and assumptions. Match the term with the appropriate phrase that states its application.;(Points: 30);Potential Matches;1: Cost of providing financial information versus the benefits derived from its use;2: Notes as part of necessary information to a fair presentation;3: Accruals and deferrals in adjusting and closing process;4: Stable dollar assumption;5: Earnings process completed and realized or realizable;6: The impact of an item on the overall financial operations of a company;7: Valuing assets at amount originally paid for them;8: Presentation of error-free information with representational faithfulness;9: Business enterprise assumed to have a long life;Answer;Historical cost principle;Going concern principle;Matching principle;Monetary unit;Revenue recognition principle;Full disclosure principle;Reliability characteristic;Cost-benefit relationship;Materiality constraint


Paper#74151 | Written in 18-Jul-2015

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