Select from the following list which assumption, principle, or constraint of the Conceptual Framework best describes each scenario

Select from the following list which assumption, principle, or constraint of the Conceptual Framework best describes each scenario. Economic Entity Periodicity Cost Constraint Going Concern Monetary unit Expense recognition 6. Richard Branson cannot use cash from the Virgin Group, the company he founded, to purchase his personal residence for him and hold the house as a company asset. Your answer: 7. Verizon Inc. reports its financial statements following the historical cost measurement principles rather than liquidation accounting. Your answer: 8. Nike Inc. reports its financial statements in U.S. dollars unadjusted for inflation. Your