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Question Completion Status: WU Weer Wave UTE PO Vescono Question 3 4.5 points Presented below 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 permits users to identify similarities in and differences between two sets of economic phenomena. A Monetary unit assumption Information that is capable of making a difference in the decision B. Verifiability of users in their capacity as capital providers. c. Timeliness The basic assumption/principle that makes dopreciation and D. Faithful representation amortization policies justifiable and appropriate E. Expense recognition principle A company provides supplementary information to explain the effects of financing arrangements Comparability The principle/assumption that implies that officers' salaries are G. Revenue recognition principle most often charged to the current period and not carried into futuro periods H. Cost principle Characteristic that assures users that information represents the Economie ently assumption economic phenomena that it intends to represent Relevance Characteristic that allows users to comprehend the meaning of the K Going concern assumption Information L Periodicity assumption The principle assumption that implies that economic activity can be identified with a particular unit of accountability m. Understandability The principle/assumption that is applied when a company reports N. Full disclosure principle land on its statement of financial position at the amount paid to acquire it, even though the estimated fair value is greater

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