Problem
Briefly describe the following concepts as they apply to the preparation of financial statements:
a. Accounting entity
b. Going concern
c. Accounting period
d. Objectivity and reliability
e. Monetary unit
f. Relevance
g. Full disclosure
h. Materiality
i. Conservatism
j. Consistency and comparability
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.