Identify the accounting assumption that best applies to each of the following situations.
a. Wendy's, the restaurant chain, sold a store location to Burger King. How can Wendy's determine the sale price of the store: by a professional appraisal, Wendy's cost, or the amount actually received from the sale?
b. If Trammel Crow Realtors had to liquidate its assets, their value would be less than carrying amounts of the assets.
c. Toyota Canada wants to determine which division of the company-Toyota or Lexus-is more profitable.
d. You get an especially good buy on a laptop, paying only $399 for a computer that normally costs $799. What is your accounting value for this computer?