(a)belief that a company will remain in business for the foreseeable future. (note: do not use the historical cost principle.)
(b) select the accounting assumption or principle indicates that personal and business recordkeeping should be separately maintained.
(c) select the accounting assumption or principle only those things that can be expressed in money are included in the accounting records.
(d) select the accounting assumption or principle separates financial information into time periods for reporting purposes.
(e) select the accounting assumption or principle measurement basis used when a reliable estimate of fair value is not available.
(f) select the accounting assumption or principle dictates that companies should disclose all circumstances and events that make a difference to financial statement users.