Match the foundational accounting concepts and qualitative characteristics with the appropriate phrase describing its application. Note that each item may be used more than once or not at all.

They gave me o choose: 1) Matching, 2) Reporting Entity, 3) Materially, 4) Comparability, 5) Going concern Assumption, 6) Relevance, 7) Monetary Unit, 8) Periodicity, 9) Faithful Representation, 10) Historical Representation, 11) Historical Cost, 12) Revenue Cognition, 13) Full Disclosure

1.Using the Canadian dollar in the financial statements.

which one is the answer?

2.An increase in an asset or a decrease in a liability due to ordinary profit-generating activities.

which one is the answer?

3.Accounting information reflects the economic substance of the event or transaction.

which one is the answer?

4.Quarterly financial reports are prepared.

which one is the answer?

5.Cost of goods sold is recognized each time a sale of goods is recognized.

which one is the answer?

6.The Canadian dollar is used to measure economic activity.

which one is the answer?

7.Including explanatory notes as part of the financial statements.

which one is the answer?

8.The affairs of the business are distinguished from those of its owners.

answer?

9.A business enterprise is assumed to have a long life.

answer?

10.Valuing assets at amounts originally paid for them.

answer?

11.Application of the same accounting principles as in the preceding year.

answer?

12.Presentation of timely information with predictive and feedback value.

answer?