BE$1\mathrm{.}10($LO $3)$ Identify which basic assumption of accounting is best described in each item below.

a$.$ The economic activities of FedEx Corporation are divided into $12-$month periods for the purpose

of issuing annual reports.

b$.$ Solectron Corporation, Inc. does not adjust amounts in its financial statements for the effects of

inflation.

c$.$ d$.$ Walgreen Co$.$ reports current and noncurrent classifications in its balance sheet.

The economic activities of General Electric and its subsidiaries are merged for accounting and

reporting purposes.