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Answer fast without explain Presented below are several qualitative characteristics, accounting principles, assumptions, and constraints. Match the better of each with the appropriate statement. Don't

Answer fast without explain
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Presented below are several qualitative characteristics, accounting principles, assumptions, and constraints. Match the better of each with the appropriate statement. Don't use a letter more than once. N. v Characteristic that permits users to identify similarities in and differences between two sets of economic phenomena, A Monetary unit assumption 1. Information that is capable of making a difference in the decision B. Expense recognition principle of users in their capacity as capital providers c. Periodicity assumption The basic assumption/principle that makes depreciation and D. Full disclosure principle amortization policies justifiable and appropriate E Timeliness A company provides supplementary information to explain the effects of financing arrangements. 6. Revenue recognition principle The principle/assumption that implies that officers' salaries are Understandability most often charged to the current period and not carried into future periods. H. Cost principle K v Characteristic that assures users that information represents the Going concern assumption economic phenomena that it intends to represent. J. Relevance G Characteristic that allows users to comprehend the meaning of X Faithful representation the information L. Verifiability M. The principle/assumption that implies that economic activity can be identified with a particular unit of accountability M. Economic entity assumption The principle/assumption that is applied when a company N. Comparability reports land on its statement of financial position at the amount paid to acquire it, even though the estimated fair value is greater 8AFA D ENG 6:27 PM 11/2470

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