Answered

At Westonci.ca, we connect you with the best answers from a community of experienced and knowledgeable individuals. Get detailed and precise answers to your questions from a dedicated community of experts on our Q&A platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

Presented below are a number of operational guidelines and practices that have developed over time. Select the assumption, principle, or constraint that most appropriately justifies these procedures and practices.

a. Fair value changes are not recognized in the accounting records.
b. Financial information is presented so that investors will not be misled.
c. Intangible assets are amortized over periods benefited.
d. Agricultural companies use fair value for purposes of valuing crops.
e. Each enterprise is kept as a unit distinct from its owner or owners.
f. All significant post-balance-sheet events are disclosed.
g. Revenue is recorded when the product is delivered.

Sagot :

Tundexi

Answer:

a. Fair value changes are not recognized in the accounting records.

Appropriate Selection: Historical Cost Principle

b. Financial information is presented so that investors will not be misled.

Appropriate Selection: Full Disclosure Principle

c. Intangible assets are amortized over periods benefited.

Appropriate Selection: Expense Recognition Principle

d. Agricultural companies use fair value for purposes of valuing crops.

Appropriate Selection: Measurement Principle

e. Each enterprise is kept as a unit distinct from its owner or owners.

Appropriate Selection: Economic entity assumption

f. All significant post-balance-sheet events are disclosed.

Appropriate Selection: Full Disclosure Principle

g. Revenue is recorded when the product is delivered.

Appropriate Selection: Revenue Recognition Principle

Thanks for using our platform. We're always here to provide accurate and up-to-date answers to all your queries. We appreciate your time. Please revisit us for more reliable answers to any questions you may have. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.