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

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