Accounting and Auditing

Match the following

List 1

A. Revenue is recorded only when goods are sold

B. Business is assumed to continue its activities in future

C. Very small items are ignored in financial statements

D. Expenses are recorded when they are incurred

List 2

1. Revenue Recognition Principle
2. 
   
3. Going Concern Principle
4. 
   
5. Materiality Principle
6. 
   
7. Accrual Principle
8. 
   

Choose the correct option: