Match the Letter of Each Principle or Assumption or Qualitative

question 114

Multiple Choice

Match the letter of each principle or assumption or qualitative characteristic with the appropriate statement.
-Assumption that a business's financial statements are separate and distinct from the personal transactions of the owners.

• A)Business entity
• B)Going concern
• C)Time period
• D)Monetary unit
• E)Historical cost
• F)Conservatism
• G)Realization
• H)Consistency
• I)Full disclosure
• J)Verifiability
• K)Materiality
• L)Industry practices

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Definitions:

Placenta

This organ, developing within the uterus during pregnancy, functions to feed the fetus with necessary nutrients and oxygen and clear out its waste products.

Gestational Age

The age of an embryo or fetus (or the duration of the pregnancy) starting from the first day of the mother's last menstrual period.

Thirty-Seven

A number, specifically the integer following thirty-six and preceding thirty-eight.

Mesoderm

The middle layer of an embryo in early development, which gives rise to muscles, bones, and blood vessels.