4. Which of the following publications does not qualify as a statement of generally accepted accounting principles? A Statements of financial standards issued by the FASB B) Accounting interpretations issued by the FASB APB Opinions D) Accounting research studies issued by the AICPA 5. Accounting concepts-matching. Listed below are several information characteristics and accounting principles and assumptions. Match the letter of each with the appropriate phrase that states its application. (Items a through k may be used more than once or not at all.) a. Economic entity assumption b. Going concern assumption 8. Expense recognition principle h. Full disclosure principle c. Monetary unit assumption d. Periodicity assumption e. Historical cost principle Revenue recognition principle i. Relevance characteristic j. Faithful representation characte k. Consistency characteristic f. 1. Stable-dollar assumption (do not use historical cost 2. The performance obligation is satisfied. 3. Numbers and descriptions match what really existed or happened. 4. Yearly financial reports. 5. Accruals and deferrals in adjusting and closing process. (Do not use going concern.) 6. Useful standard measuring unit for business transactions. 7. Notes as part of necessary information to a fair presentation. 8. Affairs of the business distinguished from those of its owners. 9. Company assumed to have a long life. 10. Valuing assets at amounts originally paid for them. 11. Application of the same accounting principles as in the preceding year. 12. Summarizing significant accounting policies. 13. Presentation of timely information with predictive and confirmatory valu principle). 6. What is a purpose of having a conceptual framework? A) To make sure that economic activity can be identified with a particular legal entity. B) To segregate activities among different companies. C) To provide comparable information for different companies. D) To enable the profession to more quickly solve emerging practical problems and to provide a foundation from which to build more useful standards