Business, 21.10.2020 16:01 bankskry

Identify the accounting assumption or principle that is described below. (a) Belief that a company will remain in operation for the foreseeable future. (b) Indicates that personal and business record-keeping should be separately maintained. (c) Only those items that can be expressed in money are included in the accounting records. (d) Separates financial information into time periods for reporting purposes. (e) Measurement basis used when a reliable estimate of fair value is not available. (f) Dictates that companies should report all circumstances and events that make a difference to financial statement users.

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