Matching Definitions with Terms

Match each definition with its related term by entering the appropriate letter in the space provided. There should be only one definition per term $($that is$,$ there are more definitions than terms$).$

Term

Definition

$(1)$ Going concern assumption

A$.=$ Liabilities $+$ Stockholders' Equity.

B$.$ Reports assets, liabilities, and stockholders' equity.

$(2)$

Historical cost principle

C$.$ Accounts for a business separate from its owners.

$(3)$ Credits

D$.$ Increase assets; decrease liabilities and stockholders' equity.

$(4)$ Assets

E$.$ An exchange between an entity and other parties.

$(5)$ Account

F$.$ The concept that businesses will operate into the foreseeable future.

G$.$ Decrease assets; increase liabilities and stockholders' equity.

H$.$ The concept that assets should be recorded at the amount paid on the date of the transaction.

I. A standardized format used to accumulate data about each item reported on financial statements.