Question 8: Match each GAAP principle listed to its description. Prudence Consistency Revenue recognition Objectivity Business statements are impartial and absent of bias. The same accounting methods are used year to year. The methods least likely to overstate assets and income are used. Publicly traded companies record when revenue is earned.

Question 8: Match each GAAP principle listed to its description. Prudence Business statements are impartial and absent of bias. Consistency The same accounting mothods are used year to year. Revenue recognition The methods least likely to overstate assets and income are used. Publicly traded companies record when revenue is earned