Match terms and definitions. Put your answer in the space provided.
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1.
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The presentation of information in a manner such that users can depend on it to represent economic conditions.
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2.
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The concept relating to the relationship of two or more accounting numbers on an intra?comparability basis.
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3.
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The method by which expenses for a period are determined by direct association with specific revenues over a particular time period.
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4.
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The concept of providing results that would be substantially duplicated by independent measurers using the same measurement methods.
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5.
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The exchange price at the date of the transaction.
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6.
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The concept of choosing the alternative with the least favorable effect upon owner's equity.
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7.
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The reporting of economic activity as faithfully as possible without coloring the image it communicates for the purpose of influencing behavior in some particular direction.
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8.
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The point at which a user's judgment would be changed or influenced by the omission or misstatement of the information.
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9.
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The concept relating to the selection of information and methods of measurement and reporting that will aid those individuals who rely upon financial statements to make decisions.
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10.
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The ability to relate information to a benchmark or standard.
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a.
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comparability
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e.
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matching process
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i.
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relevance
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b.
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conservatism
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f.
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materiality
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j.
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reliability
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c.
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consistency
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g.
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neutrality
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k.
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verifiability
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d.
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historical cost
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h.
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recognition
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l.
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understandability
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