Match the Descriptions Listed in Letters a Through E Below

question 21

Essay

Match the descriptions listed in letters a through e below with the proper assumption numbered from 1 through 4 below.
Descriptions
a. The economic life of an entity can be divided into time periods.
b. The financial statements should contain transactions related to only the business and not the individual owners.
c. Purchasing power of money is constant over time.
d. The dollar value attached to an item on a company's balance sheet is determined by the market in which the company operates.
e. Life of the entity is indefinite.
____ 1. Economic entity assumption
____ 2. Stable dollar assumption
____ 3. Going concern assumption
____ 4. Fiscal period assumption

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Definitions:

Sexual Contact

Any form of physical interaction of a sexual nature, including but not limited to sexual intercourse.

Children

Young human beings from birth to the onset of puberty, characterized by rapid physical growth and development, as well as learning and socialization processes.

Fetishism

A form of sexual behavior in which gratification is linked to an abnormal degree to a particular object, item of clothing, part of the body, etc.

Underwear

Clothing worn beneath outer clothes, typically next to the skin.