The asset-measurement concept is the fifth of the nine fundamental accounting concepts. The first five are:

1. dual-aspect concept 2. money-measurement concept 3. entity concept 4. going-concern concept 5. asset-measurement concept The dual-aspect concept is:

_____ 5 __________ 1 _____ .

The money-measurement concept is:

Accounting reports only facts that can be expressed in m _______ a ______ .

The entity concept is:

Accounts are kept for e ______ as distinguished from the p _____ who own those entities.

The going-concern concept is:
Accounting assumes that an e _____ will continue to operate i __________ .
The asset-measurement concept is:
Accounting focuses on the ___ ____ of monetary assets and on the ___ of nonmonetary assets. That is, it focuses on how we measure assets on the balance sheet.