Choose only one please, reference needed

GAAP is the acronym for generally accepted accounting principles. GAAP consists of the following: . Basic underlying accounting principles, assumptions, and concepts . Detailed reporting standards and other rules established and organized by the Financial Accounting Standards Board (FASB) . Generally accepted industry practices 1. For your initial post, do the following: 0 Use the internet or PMI library to research one of the following basic underlying accounting principles: 0 Economic Entity Assumption 0 Going Concern Assumption 0 Time Period Assumption 0 Monetary Unit Assumption 0 Cost Principle (or Measurement Principle) 0 Matching Principle (or Expense Recognition Principle) 0 Revenue Recognition Principle o Full Disclosure Principle o Industry Practices o Explain the principle in your own words. Be sure to discuss why it is important