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66. 2-137-Accounting concepts-matching. Listed below are several information characteristics and accounting principles and assumptions. Match the letter of each with the appropriate phrase that states its application. (items a through k may be used more than once or not at all.) a. Economic entity assumption b. Going concern assumption c. Monetary unit assumption d. Periodicity assumption e. Historical cost principla f. Revenue recognition principle g. Expense recognition principle h. Full disclosure principle i. Relevance characteristic j. Falthful representation characteristic k. Consistency characteristic 1. Stable-dollar assumption (do not use historical cost principle). 2. Earning process completed and realized or realizable. 3. Numbers and descriptions match what really existed or happened. 4. Yearly financial reports. 5. Accruals and deferrals in adjusting and closing process. (Do not use going concem.) 6. Useful standard measuring unit for business transactions. 7. Notes as part of necessary information to a fair presentation. 8. Affairs of the business distinguished from those of its owners. 9. Company assumed to have a long life. 10. Valuing assets at amounts originally paid for them. 11. Application of the same accounting princlples as in the preceding year. 12. Summarizing significant accounting pollcles. 13. Presentation of timely Information with predictlve and feedback value

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