ting (Summer 2022) sec. 02 Match each of the following statements to the proper expression: It states that the economic life of a business can be divided into artificial time periods. Assets that a company expects to convert to cash or use up within one year. Requires that only those things that can be expressed in money are included in the accounting records Recorded at the end of an accounting period to transfer the balances of temporary accounts to a permanent owner's equity account. Efforts (expenses) should be recognized in the period in which a company uses assets or incurs liabilities to generate results (revenues). Balance sheet accounts whose balances are carried forward to the next period. Expenses or revenues that are recognized at a date later than the point when cash was originally exchanged. Obligations that a company expects to pay after one year. Requires that companies recognize revenue in the accounting period in which the performance obligation is satisfied. Companies record transactions in the period in which the events occur. Choose 0 Choose.. = Choose. Choose... Choose... Choose Choose = Choose.. Choose = Choose arch 12 Dil $ Next page 33C Petscn Home End % 80 & 6 T 7 V 8 00 3 E 4 3 1 5 R T C 6: 7.9 31 DI F ] G V H J U . E A 1 C+ + 9 K 0 N P