AC 501 help A Guide to career/Snaptutorial AC 501 help A Guide to career/Snaptutorial

AC 501 Unit 1 Homework Assignment
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E2-7 (Assumptions, Principles, and Constraints): Presented below are the
assumptions, principles, and constraints used in this chapter.
Economic entity assumption 5.Historical-cost principle 9. Materiality
Going-concern assumption 6.Matching principle 10. Industry practices
Monetary unit assumption 7. Full disclosure principle
11. Conservatism
Periodicity assumption 8. Cost-benefit relationship
Instructions
Identify by number the accounting assumption, principle, or constraint that describes
each situation below. Do not use a number more than once.
E2-8 (Assumptions, Principles, and Constraints): Presented below are a number of
operational guidelines and practices that have developed over time.
Instructions