Question: Intangible assets are capitalized and amortized over periods benefited.

Answer: Expense Recognition Principle

Question: Brokerage firms use fair value for purposes of valuing investments.

Answer: Measurement (fair value) Principle

Question: Each enterprise is kept as a unit distinct from its owner or owners.

Answer: Economic Entity Assumption

Question: All significant post-balance-sheet events are reported.

Answer: Full Disclosure Principle

Question: Fair value changes of fixed assets are not recognized in the accounting records.

Answer: Measurement (historical cost) Principle

Question: Supplemental information is presented so that investors will not be misled.

Answer: Full Disclosure Principle

Question: Revenue is recorded at point of sale

Answer: revenue recognition principle

Question: All important aspects of bond indentures are presented in financial statements.

Answer: Full disclosure principle

Question: Rationale for accrual accounting.

Answer: Expense Recognition and Revenue Recognition Principles

Question: The use of consolidated statements is justified.

Answer: economic entity assumption