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Check my w Which of the following is not an entity specific assumption? Multiple Choice Proprietary concept Continuity Stable currency Proprietary concept Continuity Stable currency Separate entity During the current year, a corporation purchased a parcel of land located in downtown Winnipeg. The company is not currently operating in Manitoba. However, the management expects to be operating at that location within twenty years. If the company does not buy the land now, it would be unable to find suitable land when needed later. The land should be classified on the current balance sheet under the caption: Current assets 15 O O Investments Capital assets Other assets The CPA Canada Handbook requires that income for tax purposes be equal to a company's accounting income at all times. True or False True False