04: Identify which basic assumption of accounting is best described in each of the following items. The economic activities of FedEx Corporation (USA) are divided into 12-month select an assumption periods for the purpose of issuing annual reports. a. b select an assumption . select an assumption c. Total S.A. (FRA) does not adjust amounts in its financial statements for the effects of inflation. Barclays (GBR) reports current and non-current classifications in its statement of financial position. The economic activities of Tokai Rubber Industries (JPN) and its subsidiaries are merged for accounting and reporting p d