Presented below are the concepts, principles and criteria used in this and previous chapters. 

1. Accounting entity concept.

2. Going concern principle.

3. Monetary principle.

4. Accounting period concept.

5. Full disclosure principle.

6. Revenue recognition criteria.

7. Expense recognition criteria.

8. Cost principle.

9. Materiality test.

Required

Identify by number the accounting concept, principle or criteria that describes each of these situations. Do not use a number more than once.

-----(a) Repair tools are expensed when purchased. 

-----(b) Recognises an expense for unpaid salaries. 

-----(c) Assumes that the dollar is the measuring unit used to report financial information. 

-----(d) Separates financial information into time periods for reporting purposes.

-----(e) Market value changes subsequent to purchase are not recorded in the accounts. (Do not use the revenue recognition criteria.)

-----(f) Indicates that personal and business record keeping should be separately maintained.

-----(g) Ensures that all relevant financial information is reported. 

-----(h) Requires recognition of revenues when an entity has completed a performance obligation and it is probable that the consideration to which the entity is entitled to in exchange for the goods will be collected.