1. 2. 3. 4. 5. I. MATCHING TYPE. Match the appropriate accounting concepts and principles in Column A to Gelum B. COLUMN A Consistency Periodicity Objectivity Entity Concept Materiality COLUMN B A. Concerned with information that is significant enough to affect valuation or decision. B. Records of properties acquired and services availed of by a business are maintained. C. Means that similar items should receive a similar accounting treatment. D. Should be supported by a sufficient evidence E. Involves dividing the life of a business entity into accounting periods of equal length.

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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.