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  1. business
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  3. match the following terms to the the appropriate d

Match the following terms to the the appropriate definition. Each term / definition will only...

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Accounting

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Match the following terms to the the appropriate definition. Each term / definition will only be used once. General Joumal Monetary Unit Assumption Periodicity Assumption Going Concern Expense Recognition Principle Revenue Recognition Principle Confirmatory Value [Choose] The principle that dictates that companies recognize expenses in the period incurred in order to match against revenues earned. An assumption that the economic life of a business can be divided into artificial time periods. US GAAP financial statements are reported in the US (\$) Dollar. Quality of information that confirms a financial statement's user's earlier expectation. The principle requires companies to recognize revenue in the accounting period in which it is earned. The most basic journal - where transactions are recorded in chronological/historic order. Rationale why fixed assets are reported at historic cost and not at ilquidation values

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