Match the following items: Events recorded only in periods the company receives or pays cash Revenue recognition principle Expenses paid before they are incurred Book value Cost less accumulated depreciation Prepaid expenses The economic life of a business can be divided into artificial time periods Expense recognition principle Efforts are related to accomplishments Cash basis Includes only permanent-balance sheet-accounts Accrued revenues Revenue is recognized when the performance obligation is satisfied. Depreciation Revenues earned but not yet received periodicity assumption Expenses incurred but not yet paid post-closing trial balance A cost allocation process Accrued expenses