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.

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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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