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Question $32(0\mathrm{.}1$ points$)$

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The going concern assumption:

Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.

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Means that we can express transactions and events in monetary, or money, units.

Presumes that the life of a company can be divided into time periods, such as

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months and years, and that useful reports can be prepared for those periods.

Means that a business is accounted for separately from other business entities,

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including its owner.

Prescribes that a company record the expenses it incurred to generate the revenue reported.

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