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ACC 349 E2-4 Assumptions Principles and Constraints
The file ACC 349 E2 4.1 contains solutions to the following task:
E2-4. Presented below are the assumptions, principles, and constraints used in this chapter.
1. Economic entity assumption 5. Historical cost principle 9. Materiality
2. Going concern assumption 6. Matching principle 10. Industry practices
3. Monetary unit assumption 7. Full disclosure principle 11. Conservatism
4. Periodicity assumption 8. Cost-benefit relationship
Identify by number the accounting assumption, principle, or constraint that describes each situation below.
Do not use a letter more than once.