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Business · Accounting
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CALCULATOR FULL SCREEN PRINTER Exercise 2-12 Identify the accounting assumption or priniple that is described below. Is the rationale for why plant assets are not reported at liquidation value. (Note: Do not use the historical cost principle. Indicates that personal and business record-keeping should be separately maintained. Assumes that the dollar is the measuring stick used to report on financial performance. Separates financial information into time periods for reporting purposes. Measurement basis used when a reliable estimate of fair value is not available. Dictates that companies should disclose all drcumstances and events that make a difference to financial statement users. LINK TO TEXT VIDEO: APPLIED SKILLS Question Attempts: 0 of 3 used SAVE FOR LATER
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