Select the appropriate terms for the following statements.

Events recorded only in periods the company receives or pays cash	Cash basisAccrued expensesContra-assetRevenue recognition principlePrepaid expensesExpense recognition principleAccrued revenuesDepreciationBook valuePeriodicity assumption
Expenses paid before they are incurred	Revenue recognition principleExpense recognition principleAccrued revenuesCash basisBook valueDepreciationAccrued expensesContra-assetPeriodicity assumptionPrepaid expenses
Cost less accumulated depreciation	DepreciationRevenue recognition principleExpense recognition principleAccrued revenuesCash basisPrepaid expensesAccrued expensesPeriodicity assumptionBook valueContra-asset
The economic life of a business can be divided into artificial time periods	Accrued revenuesPrepaid expensesCash basisDepreciationExpense recognition principleRevenue recognition principleContra-assetPeriodicity assumptionAccrued expensesBook value
Efforts are related to accomplishments	Prepaid expensesDepreciationAccrued expensesBook valueContra-assetAccrued revenuesPeriodicity assumptionExpense recognition principleCash basisRevenue recognition principle
Accumulated depreciation is an example	Expense recognition principleBook valueAccrued expensesDepreciationContra-assetRevenue recognition principlePeriodicity assumptionCash basisPrepaid expensesAccrued revenues
Revenue is recognized when the performance obligation is satisfied.	Expense recognition principleAccrued revenuesPeriodicity assumptionCash basisDepreciationRevenue recognition principlePrepaid expensesBook valueAccrued expensesContra-asset
Revenues earned but not yet received	Accrued expensesExpense recognition principleCash basisAccrued revenuesDepreciationBook valueContra-assetPrepaid expensesPeriodicity assumptionRevenue recognition principle
Expenses incurred but not yet paid	Expense recognition principleCash basisPrepaid expensesAccrued expensesRevenue recognition principleContra-assetAccrued revenuesBook valueDepreciationPeriodicity assumption
A cost allocation process	Expense recognition principleAccrued expensesContra-assetRevenue recognition principleBook valueAccrued revenuesDepreciationPeriodicity assumptionPrepaid expensesCash basis