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Kindly answer all please. I will thumbs up if you do Part 3. Match the following words with their definition: A. Accrual Accounting D. Disclosure
Kindly answer all please. I will thumbs up if you do
Part 3. Match the following words with their definition: A. Accrual Accounting D. Disclosure principle principle E. Going concern principle B. Conservatism principle F. Matching principle C. Cost principle G. Materiality principle H. Monetary unit principle I. Time period principle J. Objective principle 11. A barber who performs services for a client should record revenue. 12. A company that purchases furniture should record it at its acquisition price. 13. A Philippine company should report financial statements in pesos. 14. All relevant information should be included in the financial reports 15. All transactions should be supported by unbiased evidence. 16. Assume that the company will continue indefinitely. 17. Expenses should be recorded in the period when the revenue is generated. 18. In case of doubt, assets and income should not be overstated. 19. Minimal costs incurred should be recorded as an expense. 20. Statement of Financial position should be recorded as of December 31, 2021Step by Step Solution
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