1. Matching Principle: Maris Racal spends ₱5,000 on supplies in July for jewelry she plans to sell in August. She records this as an expense in July following the matching principle. 2. Revenue Recognition Principle: Maris bakes cookies for Anthony in

1. Matching Principle: Maris Racal spends ₱5,000 on supplies in July for jewelry she intends to sell in August, and she records this as an expense in July to follow the matching principle. 2. Revenue Recognition Principle: Maris bakes cookies for Anthony in November and receives ₱1,000 in December. She accounts for the income from the cookie order in November when she completed the work, even though payment comes later. 3. Materiality Principle: Maris spends ₱200 on paint for her art business, which is a small amount compared to her total costs. She chooses not to list this minor expense separately in her financial reports, in line with the materiality principle. 4. Objectivity Principle: Maris purchases an easel for ₱1,500 and records it at that exact price in her records. This follows the objectivity principle by valuing the item based on clear, factual data rather than personal judgment.