Question: identify assumption ,concept , or constraint please solve this Flag question The company prepares monthly, quarterly and annual financial statements for management review Periodicity Economic
Flag question The company prepares monthly, quarterly and annual financial statements for management review Periodicity Economic entity concept Monetary unit Assets are not stated at their liquidation value. The retail company A uses retail inventory method and does not traces actual unit costs to invoices because it considers the cost to provide the unit cost of inventory exceeds the benefits When preparing the financial statements, the company reports all relevant financial information The proprietor of an unincorporated business maintains two bank accounts and two sets of accounting records-one for household expenses, and the other for business purposes. Full disclosure Cost constraint
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