ed Kingdom) Chapter 2: Conceptual framework Assignment (1): 15/09/2020 Identify by number the accounting assumption, principle, or constraint that describes each situation below. Do not use any of it more than once. (a) Allocates expenses to revenues in the proper period. (b) Indicates that fair value changes subsequent to purchase are not recorded in the accounts. (Do not use revenue recognition principle.) (c) Ensures that all relevant financial information is reported. (d) Rationale why plant assets are not reported at liquidation value (Do not use historical cost principle.) (e) Generally records revenue at the point of sale. (f) Indicates that personal and business record keeping should be separately maintained. (g) Separates financial information into time periods for reporting purposes. (h) Permits the use of fair value valuation in certain situations. (i) Assumes that the yen is the "measuring stick" used to report on financial performance of a Japanese company. Focus