ous page) fit c. What organizations are involved in establishing GAAP? ome 43./ Briefly describe the following concepts as they apply to the s of preparation of financial statements: ents a. Relevance b. Faithful representation c. Accounting entity ces d. Going concern ity, e. Accounting period f. Monetary unit g. Historical cost the h. Revenue recognition ld), i. Expense matching j. Full disclosure k. Materiality 1. Cost-benefit