Question 7 options: Match the below questions with 1. Accounting Period Concept (P) 2. Adequate Disclosure concept(D) 3. Business entity concept (B) 4. Cost Concept (C) 5. Going concern concept (G) 6. Matching concept (M) 7. Objectivity concept (O) 8. Unit of measure concept (U) 1.This concept supports relying on an independent actuary (statistician), rather than the chief operating officer of the corporation, to estimate a pension liability. 2. If this concept was ignored, the confidence of users in the financial statements could not be maintained 3. Material litigation involving the corporation is described in a note. 4. Land worth $800,000 is reported at its original purchase price of $220,000 5. Assume that the business will continue forever 6. Monthly utilities cost are reported as expenses along with the monthly revenues 7. The changes in financial condition are reported at the end of the month. 8. Changes in the use of accounting methods from one period to the next are described in the notes to the financial statements 9. This concepts justifies recording only transactions that are expressed in dollars. 10. Personal transactions of owners are kept separate from the business.