correct the following:

The following terms relate to the fundamental qualities of useful information. Match the key letter of the correct term with the descriptive statement below a Confirmatory value b. Neutral Faithful representation Timely Predictive value Relevant & Verifiable b1 Accounting information that is not biased toward one position or another 2. Providing information before it loses its capacity to influence decision. 3. Independent measures, using the same methods, obtain similar results. 4. Providing information that would make a difference in a business decision. 5. Provide information that accurately depicts what really happened. C6. Confirms or corrects prior decisions Problem II (12 points) Presented below are the basic assumptions and principles underlying financial statements. a Historical cost principle Economic entity assumption .Full disclosure principle d Going concern assumption e. Monetary unit assumption f Periodicity assumption Identify the basic assumption or principle that is described below. 1. 2. The economic life of a business can be divided into artificial time periods. The business will continue in operation long enough to carry out its existing objectives. 3. Assets should be recorded at their cost. 4, 5. Economic events can be identified with a particular unit of accountability Circumstances and events that make a difference to financial statement users should be disclosed 6. Only transaction data that can be expressed in terms of money should be included in the accounting records