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Mul step Part - Number these items in the order in which they would appear on a multi-step income statement. If you elieve that any

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Mul step Part - Number these items in the order in which they would appear on a multi-step income statement. If you elieve that any item(s) does/do not apply, put an X on the line(s). -Income from continuing operations Discontinued operations Interest income Prior-period adjustments Taxes on income from continuing operations Unearned revenue Dividends declared and paid -Gross profit X Accounts receivable Net income sales revenues Selling and general & administrative expenses Income from continuing operations before income tax Part IlI Listed below are several terms and phrases associated with the FASB's conceptual framework. In List A, insert the letter of the item from List B that is most appropriately associated with it. List B applying the same accounting practices over time justifies the usage of depreciation and amortization List A 1.going concern assumption 2.materiality 3. consistency 4. verifiability 5. faithful representation 6. matching principle & concerns the relative size of an item and its effect on decisions &d concerns when revenue is recorded 7. historical cost principle e financial statements accurately reflect the condition of a business revenue recognition principle Othe original transaction value upon acquisition g. implies consensus among different measurers makes the current- noncurrent classification of assets and liabilities on the balance sheet useful

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