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30 Cards in this Set
- Front
- Back
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ACCOUNTING PERIOD CYCLE
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CHANGES IN FINANCIAL INFORMATION ARE REPORTED FOR A SPECIFIC PERIOD OF TIME IN THE FORM OF FINANCIAL STATEMENTS.
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ADEQUATE DISCLOSURE
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FINANCIAL STATEMENTS CONTAIN ALL INFORMATION NESSARY TO USDERSTAND A BUSINESS'S FINANCIAL CONDITION
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BUSINESS ENTITY
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FINANCIAL INFORMATION IS RECORDED AND REPORTED SEPARATELY FROM THE OWNER'S PERSONAL FINANCIAL INFORMATION
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CONSISTENT REPORTING
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THE SAME ACCOUNTING PROCEDURE ARE FOLLOWED IN THE SAME WAY IN EACH ACCOUNTING PERIOD.
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GOING CONERN
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FINANCIAL STATEMENTS ARE PREPARED WITH THE EXPECTATION THAT A BUSINESS WILL REMAIN IN OPERATION INDEFINITELY
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HISTORICAL COST
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THE ACTUAL AMOUNT PAID FOR MERCHANDISE OR OTHER ITEMS BOUGHT IS RECORDED
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MATCHING EXPENSES WITH REVENUE
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REVENUE FROM BUSINESS ACTIVITIES AND EXPENSES ASSOCIATED WITH EARNING THAT REVENUE ARE RECORDED IN THE SAME ACCOUNTING PERIOD
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OBJECTIVE EVIDENCE
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A SOURCE DOCUMENT IS PREPARED FRO EACH TRANSACTION
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REALIZATION OF REVENUE
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REVENUE IS RECORDED AT THE TIME GOODS OR SERVICE ARE SOLD
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UNIT OF MEASUREMENT
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BUSINESS TRANSACTIONS ARE STATED IN NUMBERS THAT HAVE COMMON VALUES; THAT IS, USING A COMMON UNIT OF MERSUREMENT
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|
|
ACCOUNTING PERIOD CYCLE
|
CHANGES IN FINANCIAL INFORMATION ARE REPORTED FOR A SPECIFIC PERIOD OF TIME IN THE FORM OF FINANCIAL STATEMENTS.
|
|
|
ADEQUATE DISCLOSURE
|
FINANCIAL STATEMENTS CONTAIN ALL INFORMATION NESSARY TO USDERSTAND A BUSINESS'S FINANCIAL CONDITION
|
|
|
BUSINESS ENTITY
|
FINANCIAL INFORMATION IS RECORDED AND REPORTED SEPARATELY FROM THE OWNER'S PERSONAL FINANCIAL INFORMATION
|
|
|
CONSISTENT REPORTING
|
THE SAME ACCOUNTING PROCEDURE ARE FOLLOWED IN THE SAME WAY IN EACH ACCOUNTING PERIOD.
|
|
|
GOING CONERN
|
FINANCIAL STATEMENTS ARE PREPARED WITH THE EXPECTATION THAT A BUSINESS WILL REMAIN IN OPERATION INDEFINITELY
|
|
|
HISTORICAL COST
|
THE ACTUAL AMOUNT PAID FOR MERCHANDISE OR OTHER ITEMS BOUGHT IS RECORDED
|
|
|
MATCHING EXPENSES WITH REVENUE
|
REVENUE FROM BUSINESS ACTIVITIES AND EXPENSES ASSOCIATED WITH EARNING THAT REVENUE ARE RECORDED IN THE SAME ACCOUNTING PERIOD
|
|
|
OBJECTIVE EVIDENCE
|
A SOURCE DOCUMENT IS PREPARED FRO EACH TRANSACTION
|
|
|
REALIZATION OF REVENUE
|
REVENUE IS RECORDED AT THE TIME GOODS OR SERVICE ARE SOLD
|
|
|
UNIT OF MEASUREMENT
|
BUSINESS TRANSACTIONS ARE STATED IN NUMBERS THAT HAVE COMMON VALUES; THAT IS, USING A COMMON UNIT OF MERSUREMENT
|
|
|
ACCOUNTING PERIOD CYCLE
|
CHANGES IN FINANCIAL INFORMATION ARE REPORTED FOR A SPECIFIC PERIOD OF TIME IN THE FORM OF FINANCIAL STATEMENTS.
|
|
|
ADEQUATE DISCLOSURE
|
FINANCIAL STATEMENTS CONTAIN ALL INFORMATION NESSARY TO USDERSTAND A BUSINESS'S FINANCIAL CONDITION
|
|
|
BUSINESS ENTITY
|
FINANCIAL INFORMATION IS RECORDED AND REPORTED SEPARATELY FROM THE OWNER'S PERSONAL FINANCIAL INFORMATION
|
|
|
CONSISTENT REPORTING
|
THE SAME ACCOUNTING PROCEDURE ARE FOLLOWED IN THE SAME WAY IN EACH ACCOUNTING PERIOD.
|
|
|
GOING CONERN
|
FINANCIAL STATEMENTS ARE PREPARED WITH THE EXPECTATION THAT A BUSINESS WILL REMAIN IN OPERATION INDEFINITELY
|
|
|
HISTORICAL COST
|
THE ACTUAL AMOUNT PAID FOR MERCHANDISE OR OTHER ITEMS BOUGHT IS RECORDED
|
|
|
MATCHING EXPENSES WITH REVENUE
|
REVENUE FROM BUSINESS ACTIVITIES AND EXPENSES ASSOCIATED WITH EARNING THAT REVENUE ARE RECORDED IN THE SAME ACCOUNTING PERIOD
|
|
|
OBJECTIVE EVIDENCE
|
A SOURCE DOCUMENT IS PREPARED FRO EACH TRANSACTION
|
|
|
REALIZATION OF REVENUE
|
REVENUE IS RECORDED AT THE TIME GOODS OR SERVICE ARE SOLD
|
|
|
UNIT OF MEASUREMENT
|
BUSINESS TRANSACTIONS ARE STATED IN NUMBERS THAT HAVE COMMON VALUES; THAT IS, USING A COMMON UNIT OF MERSUREMENT
|
