2.Market value changes subsequent to purchase are not recorded in the
3.The death of the president is not recorded in the accounts.
這題屬於Going concern assumption為什麼呢?
4.Depreciation is recorded in the accounts over the life of an asset.
5.Each entity is kept as a unit distinct from its owner or owners.
6.Reporting must be done at defined intervals.
7.Materials were purchase on March 31 for 65,000. This amount was entered
in the Inventory account. On December 31, the materials would have cost 80,000