You are provided here the following situations, you are rwquired to match each situation with the appropriate accounting prnciple /assumption. Prompts A company prepares consolidated financial statements for a subsidiary that it owns. Submitted Answers Choose a match Revenue recognition principle The decision to remove an asset from the balance sheet A large sale on account is not recognized as revenue because collectibility is an issue. Disclosure of the liability from a lawsuit in the financial statements Control or economic entity assumption Monetary unit assumption Derecognition Preparation of monthly financial statements Using the Canadian dollar in financial statements O Full disclosure principle O Full disclosure principle An energy company includes detailed information about its reserves in its notes to the financial statements O Periodicity assumption