1) Raya Co, does resultos are reporter 2) Accounts receivable are recorded for sales on account rather than walting until cash is recelved. Which assumption or principle fustifies this practice? Answer Letter: 3) Which accounting principle or assumption is being followed when all important aspects of bond indentures are presented in financial statements? 4) Which accounting principle or assumption is being followed when each enterprise is kept as a unit distinct from its owner or owners? Answer Letter: 5) Two independent auditors count a company's inventory and arrive at the same physical quantity amount for inventory. Which qualitative characteristic is being demonstrated? Answer Letter: B) Briefly explain the difference between comparability and consistency