File Edit View History Bookmarks Window Help mybusinesscourse.com BusinessCourse A Return to course Question 1 Not yet answered Marked out of 2.00 P Flag question Basic Accounting Principles Match the following list of accounting concepts, principles, and assumptions with the definitions below: Cost principle Accounting period concept Going concern concept Consistency Materiality constraint Full disclosure principle Comparability 1. Ability to compare the financial performance of different companies. 2. Assumption that a company will continue to operate beyond the current period. 3. Only items large enough to make a difference to a user must be disclosed in the financial statements. 4. Prepare financial statements at set time intervals. 5. Record assets on the balance sheet at an amount equal to what was paid for them. 6. A company prepares its financial statements using the same methods used in prior periods. 7. All items of importance to the users of financial statements should be disclosed in the annual report. 28 MacBook Pro