a. Refers to whether or not a particular amount is large enough to affect a decision.Answer 1Accounting periodComparabilityEconomic entityGoing concernMaterialityMonetary unitRelevanceRepresentational faithfulnessTimelinessVerifiabilityb. The activities of a business are considered to be independent and distinct from those of its owners or from other companies.Answer 2Accounting periodComparabilityEconomic entityGoing concernMaterialityMonetary unitRelevanceRepresentational faithfulnessTimelinessVerifiabilityc. Accounting information should enable users to identify similarities and differences between sets of economic phenomena.Answer 3Accounting periodComparabilityEconomic entityGoing concernMaterialityMonetary unitRelevanceRepresentational faithfulnessTimelinessVerifiabilityd. Financial reporting information must be available to decision makers before it loses its capacity to influence decisions.Answer 4Accounting periodComparabilityEconomic entityGoing concernMaterialityMonetary unitRelevanceRepresentational faithfulnessTimelinessVerifiabilitye. Information is useful if it has the ability to influence decisions.