Reliability means that:

A$)$ the information is a faithful representation of what it purports to be$.$

B$)$ a company uses the same accounting principles from year to year:

C$)$ accounting information can e compared with that of other enterprises in the industry.

D$)$ the information has feedback value.

The going concern assumption assumes that the business

A$.)$ will be liquidated in the near future.

B$)$ will be purchased by another business.

C$)$ is in a growth industry.

D$)$ will continue in operation long enough to carry out its existing objectives and commitment.

The going concern principle may be inapplicable when:

A$)$ the business is just starting$-$up$.$

B$)$ liquidation is assumed.

C$)$ fair market values are higher than costs.

D$)$ net realizable values cannot be obtained.

The principle that dictates that expense be matched with revenues in the period in which efforts are made to generate revenues is the:

A$)$ revenue recognition principle

B$)$ matching principle

C$)$ cost expiration principle

D$)$ cash flow principle

The cost principle has been criticized for being:

A$)$ unverifiable

B$)$ biased

C$)$ not determinable

D$)$ irrelevant