EAP-3 chapter: Presented below are the assumptions, principles, and constraints discussed in this 1. Economic entity assumption 2. Going concern assumption 3. Monetary unit assumption 4. Time period assumption 5. Cost principle Instructions 6. Expense recognition principle 7. Full disclosure principle 8. Revenue recognition principle 9. Materiality constraint 10. Cost-benefit constraint Identify by number the accounting assumption, principle, or constraint that describes each situa- tion below. Do not use a number more than once. (a) Requires recognition of expenses in the same period as related revenues. (b) Indicates that market value changes subsequent to purchase are not recorded in the accounts. (c) Is the rationale for why plant assets are not reported at liquidation value. (Do not use histor- ical cost principle.) (d) Indicates that personal and business record keeping should be separately maintained. (e) Ensures that all relevant financial information is reported. (f) Assumes that the dollar is the "measuring stick" used to report on financial performance. (g) Requires that the operational guidelines be followed for all significant items. (h) Separates financial information into time periods for reporting purposes. (i) Benefits of the disclosure are less than its cost. Identify accounting assumptions, principles, and constraints. (SO 4,5,6)