Presented below are several qualitative characteristics, accounting principles, assumptions, and constraints. Match the letter of each with the appropriate statement. Don't use a letter more than once. Characteristic that permits users to identify similarities in and differences between two sets of economic phenomena. A Cost principle B. Relevance Information that is capable of making a difference in the decision of users in their capacity as capital providers. C. Verifiability The basic assumption/principle that makes depreciation and D. Economic entity assumption amortization policies justifiable and appropriate E. Periodicity assumption A company provides supplementary Information to explain the effects of financing arrangements. F. Monetary unit assumption The principle/assumption that implies that officers' salaries are G. Comparability most often charged to the current period and not carried into future periods. H. Going concern assumption Characteristic that assures users that information represents the l Revenue recognition principle economic phenomena that it intends to represent. 1. Expense recognition principle Characteristic that allows users to comprehend the meaning of K Understandability the information The principle/assumption that implies that economic activity can L. Full disclosure principle be identified with a particular unit of accountability. M. Timeliness The principle/assumption that is applied when a company N. Faithful representation reports land on its statement of financial position at the amount paid to acquire it, even though the estimated fair value is greater