Presented below are four concepts discussed in this chapter.

1. Time period assumption 3. Full disclosure principle

2. Cost principle 4. Revenue recognition principle

Match these concepts to the following accounting practices. Each number can be used only once.

(a) ________ Recording inventory at its purchase price.

(b) ________ Using notes and supplementary schedules in the financial statements.

(c) ________ Preparing financial statements on an annual basis.

(d) ________ Record revenue when earned.