2. Identify the accounting concept or principle that gives the most direction on how to account for each of the following situations: a. Expenses of the period total $4,300. This amount should be subtracted from revenue to compute the period's income. i. b. Expenses of $1,200 must be accrued at the end of the period to measure income properly. i. c. A customer states her intention to switch travel agencies. Should the new travel agency record revenue based on this intention? i. d. The owner of a business desires monthly financial statement to measure the progress of the entity on an ongoing basis