# Match the accounting principle on the left with the appropriate statement on the right. ____ Entity...

###### Question:

Match the accounting principle on the left with the appropriate statement on the right.

____ Entity assumption                 a. All relevant information must be presented in the financial statements.

____ Materiality                             b. X Corp. uses FIFO every year to value its inventory.

____ Full disclosure                      c. Carefully make estimates to avoid overstating assets or net income.

____Consistency                          d. Sales are recorded when the product is provided, not when we get paid.

____ Historical cost                      e. The business plans to continue indefinitely.

____ Conservatism                       f. John’s personal assets do not appear on his business’ balance sheet.

____ Going concern                     g. A $2 error in an account with a balance of$80,000 does not matter.

____ Revenue recognition           h. Assets are not adjusted to their current value.

#### Similar Solved Questions

##### Problem 40 3456 12 A 54.0 g meter stick is balanced at its midpoint (50.0 cm,...
Problem 40 3456 12 A 54.0 g meter stick is balanced at its midpoint (50.0 cm, zero point is a left end of stick). Then a 250.0-g welght is hung with a light string fronm the ig-67.0-cm point, and a 125-g weight is hung from the I-16.0-cm point (the figure below). Calculate the clockwise and counterc...
##### Solve the problem. Show your work and equations! Please do not show screenshots of Excel as...
Solve the problem. Show your work and equations! Please do not show screenshots of Excel as your work shown. 4. The company yesterday paid their annual dividend of $2.00 and the expected price in 2 years is$100. The dividend payment is expected to grow at 7%. i) What is the stock's required ...
##### Homework 13 Due: 12/03/2018 Name 1 of 1 CVE3715 Problem 1: For the slope shown below,...
Homework 13 Due: 12/03/2018 Name 1 of 1 CVE3715 Problem 1: For the slope shown below, determine the factor of safety against sliding along the circular slip surface AC. Use the ordinary method of slices 27 m 7.5 m BV C 21 m y 19 kN/m3 c'-31 kN/m2 4 240 A30...
##### Could you please answer this question The answer should be V = 1500 m/s thanks 8....
Could you please answer this question The answer should be V = 1500 m/s thanks 8. A proton travels straight through a magnetic field of 0.35T and an electric field of 500 Volt/m as shown. Calculate the protons velocity if it continues along this path with constant velocity...
##### Problem 13-2 EBIT, Taxes, and Leverage [LO 2] Kaelea, Inc., has no debt outstanding and a...
Problem 13-2 EBIT, Taxes, and Leverage [LO 2] Kaelea, Inc., has no debt outstanding and a total market value of $100,000. Earnings before interest and taxes, EBIT, are projected to be$8,400 if economic conditions are normal. If there is strong expansion in the economy, then EBIT will be 24 percent ...
##### Calculate the amount of heat needed to boil 156. g of methanol (CH3OH), beginning from a temperature of 0.8 °C. Be sure your answer has a unit symbol and the correct number of significant digits. 0 x...
Calculate the amount of heat needed to boil 156. g of methanol (CH3OH), beginning from a temperature of 0.8 °C. Be sure your answer has a unit symbol and the correct number of significant digits. 0 x10 Calculate the amount of heat needed to boil 156. g of methanol (CH3OH), beginning from a temp...
##### [1] Water flowing in a pipe is determined to be moving at the velocities given in...
[1] Water flowing in a pipe is determined to be moving at the velocities given in the diagram below. The higher level is 3 meters above the lower one and the pressure in the lower portion is measured to be 200 kPa. Determine the pressure inside the upper pipe Treat the water as an ideal fluid obeyin...