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18. Reliability means that: A) the information is a faithful representation of what it purports to be. B) a company uses the same accounting principles

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18. Reliability means that: A) the information is a faithful representation of what it purports to be. B) a company uses the same accounting principles from year to year. C) accounting information can e compared with that of other enterprises in the industry, D) the information has feedback value. 19. The going concern assumption assumes that the business A) will be liquidated in the near future. B) will be purchased by another business. C) is in a growth industry. D) will continue in operation long enough to carry out its existing objectives and commitment. 20. The going concern principle may be inapplicable when: A) the business is just starting-up. B) liquidation is assumed. C) fair market values are higher than costs. D) net realizable values cannot be obtained. 21. The principle that dictates that expense be matched with revenues in the period in which efforts are made to generate revenues is the: A) revenue recognition principle B) matching principle C) cost expiration principle D) cash flow principle 22. The cost principle has been criticized for being: A) unverifiable B) biased C) not determinable D) irrelevant

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