Match each of the numbered descriptions with the principle it best reflects. Indicate your answer by writing the letter for the appropriate principle in the blank space next to each description.

A. Cost principle 

B. Business entity principle 

C. Revenue recognition principle 

D. Going-concern principle 

1. Financial statements reflect the assumption that the business continues operating.
2. Every business is accounted for separately from its Owner or Owners.
3. Revenue is recorded only when the earnings process is complete.
4. Information is based on actual costs incurred in transactions.