CLICCTVSUGYI TLE LITTL 2 Select the assumption, principle, or constraint that most appropriately justifies characteristics.) practices. (Do not use qualitative a) Fair value changes are not recognized in the accounting records. (b) Financial information is presented so that investors will not be misled. Economic Entity Assumption Materiality (c) Intangible assets are amortized over periods benefited. Measurement Principle (fair value) Periodicity Assumption (d) Agricultural companies use fair value for purposes of valuing crops. Expense Recognition Principle Measurement Principle (historical cost) (e) Each enterprise is kept as a unit distinct from its owner or owners. Full Disclosure Principle Measurement Principle and Expense Recognition Principle (f) All significant post-balance sheet events are disclosed. Expense Recognition and Revenue Recognition Principles Revenue Recognition Principle (8) Revenue is recorded when the product is delivered (h) All important aspects of bond indentures are presented in statements (h) All important aspects of bond indentures are presented in financial statements. Materiality (1) Rationale for accrual accounting. Measurement Principle (fair value) 0) The use of consolidated statements is justified. (k) Reporting must be done at defined time intervals. Expense Recognition Principle Periodicity Assumption Revenue Recognition Principle Measurement Principle and Expense Recognition Principle Full Disclosure Principle Measurement Principle (historical cost) (0) An allowance for doubtful accounts is established. Economic Entity Assumption (m) Goodwill is recorded only at time of purchase. Expense Recognition and Revenue Recognition Principles (n) A company charges its sales commission costs to expense