17. Listed below are ten terms followed by a list of phrases that describe or characterize five of the terms. Match each phrase with the correct term by placing the letter designating the best term in the space provided by the phrase.

1. Predictive value	Information is useful in projecting cash flows.	____
2. Relevance	Pertinent to the decision at hand.	____
3. Distribution to owners	Information is available prior to the decision.	____
4. Confirmatory value	Decrease in equity due to transfers to owners.	____
5. Timeliness	Information confirms expectations.	____

18. Listed below are ten terms followed by a list of phrases that describe or characterize five of the terms. Match each phrase with the correct term by placing the letter designating the best term in the space provided by the phrase.

1. Gain	Along with relevance, a fundamental decision-specific quality.	____
2. Materiality	Results if an asset is sold for more than book value.	____
3. Completeness	Information contains all information necessary for faithful representation.	____
4. Comprehensive income	The change in equity from nonowner transactions.	____
5. Faithful representation	Concerns the decision-making impact of both the amount and nature of an item.	____

19. Listed below are ten terms followed by a list of phrases that describe or characterize five of the terms. Match each phrase with the correct term with their phrases by placing the letter designating the best term in the space provided by the phrase.

1. Neutrality	Important in analysis between firms.	____
2. Comparability	Accounting information should be unbiased.	____
3. Consistency	The process of including data in financial statements.	____
4. Cost effectiveness	Applying the same accounting practices over time.	____
5. Recognition	Considers the value of using information relative to cost of providing it.	____

20. Listed below are ten terms are followed by a list of phrases that describe or characterize five of the terms. Match each phrase with the correct term by placing the letter designating the best term in the space provided by the phrase.

1. Monetary unit assumption	Implies consensus among different observers.	____
2. Verifiability	Assumes all transactions can be identified with a particular entity.	____
3. Economic entity assumption	Assumes an entity will continue to operate indefinitely.	____
4. Going concern assumption	Requires reporting the financial life of an entity in discrete time frames.	____
5. Periodicity assumption	Ignores the possibility of inflation.	____

21. Listed below are ten terms followed by a list of phrases that describe or characterize five of the terms. Match each phrase with the correct term by placing the letter designating the best term in the space provided by the phrase.

1. Historical cost principle	Basis of measurement for fixed assets.	____
2. Materiality	Recognition of revenue only after certain criteria are satisfied.	____
3. Matching principle	Guide to expense recognition.	____
4. Full-disclosure principle	Reporting of all information that could affect decisions.	____
5. Realization principle	Application of GAAP sometimes avoided under this constraint.	____

23. Listed below are ten terms followed by a list of phrases that describe or characterize five of the terms. Match each phrase with the correct term by placing the letter designating the best term in the space provided by the phrase.

1. Expenses	Net assets.	____
2. Equity	Outflows of resources to generate revenues.	____
3. Distributions to owners	Cash dividends.	____
4. Investments by owners	Claims of creditors against the assets of a business.	____
5. Liabilities	Transfers of resources in exchange for common and preferred stock.	____

24. Listed below are ten terms followed by a list of phrases that describe or characterize five of the terms. Match each phrase with the correct term by placing the letter designating the best term in the space provided by the phrase.

1. Losses	Net outflows from peripheral transactions.	____
2. Assets	Increases in equity from the sale of goods and/or services.	____
3. Revenues	Results if an asset is sold for more than book value.	____
4. Comprehensive income	All changes in equity except owner transactions.	____
5. Gains	Probable future economic benefits controlled by an entity.	____