(TCO A) Listed below are some information, characteristics, and accounting principles and assumptions. Match the term with the appropriate phrase that states its application.
Potential Matches: |
1 : Implies that a company can divide its economic activities into artificial time periods |
2 : Affairs of the business distinguished from those of its owners |
3 : Presentation of error-free information with representational faithfulness= Presentation of error-free information with representational faithfulness |
4 : Notes as part of necessary information to a fair presentation |
5 : Economic activity can be identified with a particular unit of accountability |
6 : Earnings process completed and realized or realizable |
7 : Money is the common denominator of economic activity and provides an appropriate basis for accounting measurement and analysis |
8 : Valuing assets at amounts originally paid for them |
9 : Application of the same accounting principles as in the preceding year |
10 : Business enterprise assumed to have a long life |