Question: Identify the accounting concept that describes each situation below. Do not use any concept more than once. 3 . In the rationale for why plant
Identify the accounting concept that describes each situation below. Do not use any concept more than once.
In the rationale for why plant ansets are not reported at liquidation walse. Do not use the historical cost principle
b Indicates that personal and buineur recordbeeping thould be separately maintained.
c Envores that all relevant francial information in reported.
d Avumes that the dollar is the "meauring stick" used foreport on francial performance.
e Requires that accounting seandards be followed for ali items of significant size.
Separates finawial information inde time periods for reporting furpost.
Requesrecogition of experses in the same getiod as related fevenses. accounts
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