Economics · Accounting and Auditing
Match List I with List II: List I (Accounting Concepts) A. Going Concern Concept B. Consistency C. Cost Concept D. Materiality List II (Purpose/Applicability) I. The same accounting method used by a firm from one period to another II. Relate to the relative size or importance of an item or event III. This is an inappropriate assumption for a firm undergoing bankruptcy IV. The normal basis used to account for assets Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A - III, B - I, C - IV, D - II✓
- 2A - I, B - II, C - IV, D - III
- 3A - I, B - II, C - III, D - IV
- 4A - II, B - III, C - IV, D - I
Correct answer
A - III, B - I, C - IV, D - II
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