1, What is the monetary unit assumption? What impact does inflation have on the monetary unit assumption?

2, Which of the following items are liabilities of Design Jewellery Stores?

(A) Cash

(B) Accounts payable

(C) Drawings

(D) Accounts receivable

(E) Supplies

(F) Equipment

(G) Salaries payable

(H) Service Revenue

(I) Rent Expense

3, Can a business enter into a transaction in which only the left side of the basic accounting equation is affected? If so, given an example.

4,

BE1.1 Presented below is the basic accounting equation. Determine the missing amounts. Assets Liabilities + Owner's equity (a) $90000 $50 000 (b) ? $45000 $70 000 (e) $94 000 $65000