Match each of the following principles as appropriate:

Cost principle

Matching principle

Time-period principle

Revenue principle

Monetary unit principle

Full disclosure principle

A. Revenues are recorded when earned regardless of when cash exchanges hands.

B. The amount recorded in the financial records reflecting the cost paid.

C. Accounting activity must be reported over specific periods.

D. Expenses must be recorded in the same time period as the revenues that they generated.

E. Expressing amounts in a consistent currency (U.S. Dollars).

F. States that a public company must report all pertinent information about company activities.

A check written to a supplier is an example of a source document.

True

False

The cost principle states that a business may record the current market price if it is greater than the amount listed on an invoice.

True

False