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(TCO A) Listed beloware some information, characteristics, a. (TCO A) Listed beloware some information, characteristics, and accounting principles and assumptions. Match the term with the appropriate phrase that states itsapplication.(Points : 30)Potential Matches:1 : Implies that a company can divide its economic activities into artificial time periods2 : Affairs of the business distinguished from those of its owners3 : Presentation of error-free information with representationalfaithfulness= Presentation of error-free information withrepresentational faithfulness4 : Notes as part of necessary information to a fair presentation5 : Economic activity can be identified with a particular unit of accountability6 : Earnings process completed and realized or realizable7 : Money is the common denominator of economic activity andprovides an appropriate basis for accounting measurement and analysis8 : Valuing assets at amounts originally paid for them9 : Application of the same accounting principles as in the preceding year 10 : Business enterprise assumed to have a long life Answer : Consistency characteristic : Historical cost principle : Going concern principle : Periodicity assumption : Reliability characteristic : Economic entity assumption : Monetary unit assumption : Revenue recognition principle : Full disclosure principle : Economic entity assumption (TCO A) Listed beloware some information, characteristics, a
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