Question: choosing from a. Going concern or continuity b. Monetary unit c. Conservatism d. Matching e. Full disclosure f. Materiality g. Transaction approach h. Accrual basis

choosing from a. Going concern or continuity b. Monetary unit c. Conservatism d. Matching e. Full disclosure f. Materiality g. Transaction approach h. Accrual basis i. Industry practices j. Verifiability k. Consistency l. Realization m. Historical cost n. Time period o. Business entity which is correct 3. Accountants need some standard of measure to bring financial transactions together in a meaningful way

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