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are several qualitative characteristics, accounting principles, assumptions, and constraints. Match the letter of each with the appropriate statement. Don't use a letter more than once. Characteristic that is applied when a company issues its annual financial report within one month of the end of the year. A Full disclosure principle Characteristic that means the numbers and descriptions in B. Faithful representation financial reports match what really existed or happened. C. Expense recognition principle The basic assumption/principle that is followed when D. Revenue recognition principle accountants produce financial statements for specific periods of time. E. Verifiability The principle/assumption implying that efforts should be F. Going concern assumption matched with achievements. G. Comparability The principle/assumption that doesn't require adjusting amounts In the financial statements for inflation, H. Cost principle Presentation of material information with predictive and 1. Periodicity assumption confirmatory value ) Economic entity assumption Characteristic that is demonstrated when the same accounting K. Relevance principles are applied as in the previous year L. Monetary unit assumption The principle/assumption that requires all important aspects of bond agreements to be presented in the financial statements. M. Timeliness Characteristic that will lead different measurers, using the same N. Understandability methods, to obtain similar results

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