For each of the following descriptions choose the correct accounting concept: (a) An economic event is reported so it represents what actually happened. (b) Users find the information in the financial statements helps them to make decisions. (c) The accounting information shows the profit of a business without consideration of what the owner may want to report. (d) Financial statements make sense to business people. (e) Henry is able to confirm the information presented in the financial statements. (f) Très Chic Boutique uses the same accounting methods as other similar boutiques. accounting concepts: Neutrality Faithful Representation Relevance Comparability Understandability Verifiability

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