Write the correct letter in the orange box A. Revenue Recognition B. Matching C. Unit of Measurement D. Consistency E. Cost F. Business Entity G. Conservatism H. Going Concern I. Materiality J. Objectivity K. Full disclosure 1. The president of a company bought a computer for his personal use. He paid for it, by using company founds and debited the computer account 2. The accountant is preparing the financial statements and did not disclose information regarding the change of the depreciation method 3. A company has inventory that cost 300,000. The inventory is reported in the Balance sheet as its current market value of 325,000. 4. The company is changing the depreciation method year after year 5. A company did not incurred salary expenses, (even though the workers have done their job. ) and will record the expense for the next month 11 poins. Read below and write if is T - True of F - False 1. Retained earnings is part of the Income Statement 2. A business owners personal assets should be included with the assets of the business entity 3. Retained Earning is part of all the Financial Statements 4. When declaring dividend for the shareholders, the dividends should be presented in Assets in the Balance sheet 5. In vertical analysis of an income statement, each item could be presented in Percentage. 6. The usual sequence in the recording process is analyze each transaction, enter in journal, transfer to ledger or T account 7. Assuming a business will continue until the assests are fully utilized is in accordance with the going concern principle 8. Depreciation will be adjusted in the liability section 9. Depreciation will be adjusted in the stockholders equity section 10. When adjusting interest, we need to debit the interest payable 11. All of the expenses are always to be added as a liabilites according to the matching principle