Match the Following Principles with Their Correct Definition

question 2

Short Answer

Match the following principles with their correct definition.
a.Comparability
g.Historical cost
b.Conservatism
h.Matching
c.Double-entry accounting
i.Monetary unit
d.Economic entity
j.Revenue recognition
e.Going concern
k.Time period
f.Full disclosure
-This assumption states that each company will be accounted for separately from its owners.

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Definitions:

Movement

In economics, it typically refers to a change in the price or quantity of a good or service in a market.

Decrease in Supply

A situation where the quantity of a good that producers are willing to produce and sell at a given price level falls.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to produce and sell.

Good X

A placeholder term for any product or service in economic analysis.