2. Listed below are several foundational accounting principles and qualitative characteristics. Match the each with...
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Accounting
2. Listed below are several foundational accounting principles and qualitative characteristics. Match the each with the appropriate phrase describing its application. Matching principle Verifiability Quality of earnings Comparability A. Presentation of timely information with all relevant values, without material misstatement from error or bias. Predictive feedback is quite high. Financial Statements are qualified by auditors in their opinion. B. The use of accruals and deferrals in adjusting journal entries explain notes as documented in material financial statement notes. We do this to report events as they happen; even without cash moving into the business. C. Knowledgeable independent users reach the same conclusion as Co's management. D. Application of the same accounting principles as in the preceding year, or similar common practise in similar industry financials
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