Answer:
1) Accounting period (2) Accounting cycle (3) None (4) Net income (5) Realisation principle (6) Credit (7) Matching principle (8) Expenses
Explanation:
Accounting period : This is the period of time in which the preparation of income statement must covered. The business community and users of finnancial statements require that the business be divided into accounting period (yearly or quarterly ) so that the position of the business can be measured over those period.
Accounting cycle : This shows the sequence of account that must be prepared in order to record, classify, and summarize accounting information. The cycle starts with the recording of the transaction, jounalizing the transaction, posting the transaction to the ledger, preparation of trial balance from the ledger in order to check the arithmetical accuracy of entries in the ledger, and the preparation of financial statement from the trial balance.
Net income : This is used for the recording of operations of the business to determine the profitability of the business. When there is an increase in owners equity resulting from profitable operations it is known as Net income.
Realization principle : This principle established the rule for the periodic recognition of revenue as soon as it is capable of objective measurement, and the value of asset received or receivable in exchange is reasonably certain. It is possible to recognize revenue at a variety of points.
Credit : This is used to show the decrease in asset or increase in liability or owners equity account.
Matching principle : This principle states that expenses and revenue should be assigned to their correct accounting period. It states that all expenses earned during the financial period either paid for or unpaid and all income earned either received or not received must be recorded and treated in that financial period.
Expenses: This is the amount of money spent in the performance of business activities, example of these is the cost of goods and services used up in the process of generating revenue for the business.
Explanation:
Sorry english only. I wished I answer that
This may shock you:
We NEVER feel speed, velocity, or motion, as long as it's constant.
We only feel CHANGES in speed, velocity, or motion.
That means speeding up, slowing down, or changing direction.
As long as we're moving in a straight line at a constant speed, we don't feel anything.
