Column I	Column II
A present obligation of the entity, settlement of which will require an outflow of resources	Recognition criteria
It is probable, and measurable in monetary terms	Drawings
A decrease in assets has occurred and can be measured reliably	Prudence
Should match the pattern of consumption of the future economic benefit of a non-current asset	Expense recognition
The exercise of caution when uncertain in recording asset values	Liability
The amount that partners take from the business in anticipation of their share of the profit	Depreciation expense
Qualitative Characteristics of Financial Information	Relevant, Reliable, Comparable, Understandable
The description given to amounts set aside for warranty repairs or doubtful debts.	Materiality
An increase in equity has occurred and can be measured reliably	Income recognition
Relates to the relative size or importance of an item or event	Provision

Required: Match Column I with Column II

[Answer here]

Column I	Column II
A present obligation of the entity, settlement of which will require an outflow of resources
It is probable, and measurable in monetary terms
A decrease in assets has occurred and can be measured reliably
Should match the pattern of consumption of the future economic benefit of a non-current asset
The exercise of caution when uncertain in recording asset values
The amount that partners take from the business in anticipation of their share of the profit
Qualitative Characteristics of Financial Information
The description given to amounts set aside for warranty repairs or doubtful debts
An increase in equity has occurred and can be measured reliably
Relates to the relative size or importance of an item or event