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21 Feb 2020
A company using the same accounting principles from year to year is an application of
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Timeliness
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Full disclosure
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Consistency
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Materiality
A company using the same accounting principles from year to year is an application of
-
Timeliness
-
Full disclosure
-
Consistency
-
Materiality
papayaprofessorLv10
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papayaprofessorLv10
5 Sep 2022
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Deanna HettingerLv2
21 Feb 2020
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Related questions
Listed below are several information, characteristics, andaccounting principles and assumptions. Match the term with theappropriate phrase that states its application.
(Points : 30)
| Potential Matches: |
| 1 : Application of the same accounting principles as in thepreceding year |
| 2 : Earning process completed and realized or realizable |
| 3 : Notes as part of necessary information to a fairpresentation |
| 4 : Valuing assets at amounts originally paid for them |
| 5 : Yearly financial reports |
| 6 : Stable dollar assumption |
| 7 : Affairs of the business distinguished from those of itsowners |
| 8 : Presentation of error-free information withrepresentational faithfulness |
| 9 : Business enterprise assumed to have a long life |
| 10 : Accruals and deferrals in adjusting and closingprocess |
| Answer |
| : Monetary unit assumption |
| : Revenue recognition principle |
| : Reliability characteristic |
| : Periodicity assumption |
| : Matching principle |
| : Full disclosure principle |
| : Economic entity assumption |
| : Going concern assumption |
| : Historical cost principle |
| : Consistency characteristic |
