Which of the following is the principle that a business must report any business activities that could

affect what is reported on the financial statements?

A$.$ revenue recognition principle

B$.$ expense recognition $($matching$)$ principle

C$.$ cost principle

D$.$ full disclosure principle

$11.3\mathrm{.}1$ Also known as the historical cost principle, $\_\_\_\_\_\_\_\_$ states that everything the company owns or

controls $($assets$)$ must be recorded at their value at the date of acquisition.

A$.$ revenue recognition principle

B$.$ expense recognition $($matching$)$ principle

C$.$ cost principle

D$.$ full disclosure principle

$12.3\mathrm{.}1$ Which of the following principles matches expenses with associated revenues in the period in which

the revenues were generated?

A$.$ revenue recognition principle

B$.$ expense recognition $($matching$)$ principle

C$.$ cost principle

D$.$ full disclosure principle

$13.3\mathrm{.}2$ Which of the following does not accurately represent the accounting equation?

A$.$ Assets $$ Liabilities $=$ Stockholders$$ Equity

B$.$ Assets $$ Stockholders$$ Equity $=$ Liabilities

C$.$ Assets $=$ Liabilities $+$ Stockholders$$ Equity

D$.$ Assets $+$ Liabilities $=$ Stockholders$$ Equit