1. If accounting year begins from January, and ends on 31 December, it is known as A B C D periodicity entity matching accrual 2. This concept assumes that all business transactions must be in terms of money that is in the currency of a country. A Monetary B Going concem C Duality D Faithful representation concept tells us that there is always a need for both debit and credit entries of an equal amount to record each transaction. This is to keep the basic accounting equation in balance. A Monetary B Consistency C Duality D Materiality 4. A giant company owns a small amount of stationery on hand at the end of the financial year. However, the company does not make an effort to value it. This is consistent with concept. A historical cost B materiality C prudence D accrual