I would like help answering these questions please:

1. Define the four basic assumptions underlying U.S. GAAP. How do each of these assumptions facilitate the communication of accounting information? 2. Assets = Liabilities + Equity. Explain why this equation must always be true.

3. Explain the revenue recognition principle. How does this principle relate to the concept of deferred revenues?

4. Explain the matching principle. Why is it important?

5. What are internal controls? How do they relate to the fraud triangle? 6. Why are cash controls so important? Give at least three examples of controls we can put in place to safeguard cash.