PRINCIPLES

Management would not want its investors to know that the company is certain for bankruptcy, yet it is stated in the financial statements. This event requires:

• accounting assumption

• accounting principle

Accounts free of bias and opinions. Is this event required accounting assumption or accounting principle?

• accounting principle

• accounting assumption

Large sum probable settlement of a lawsuit. Is this event required accounting assumption or accounting principle?

• accounting assumption

• accounting principle

Sales that occurred on a particular day is recorded on the same day. This event requires:

• accounting principle

• accounting assumption

Initial cost and depreciation of an asset over time. This event requires:

• accounting assumption

• accounting principle