Match each of these numbered descriptions with the term it best describes. Indicate your answer by selecting the term for the correct principletstandard in the dropdown provided.

$\backslash$table$[[,$Descriptions,$],[1.,$Requires every business to be accounted for separately from its owner or owners.,Business entity principle$],[2.,\backslash$table$[[$Requires financial statement information to be based on costs incurred in$],[$transactions$.]],],[3.,\backslash$table$[[$Requires financial statements to reflect the assumption that the business will$],[$continue operating instead of being closed or sold.$]],],[4.,$Requires revenue to be recorded only when the earnings process is complete.,$]]$