Apply the assumptions, concepts and principles underlying accounting. L01 The global pandemic has had a negative impact on business all over the world. Mexican Hats Ltd, an iconic restaurant in Christchurch, is unable to keeps its doors open due to lockdown restrictions that forced restaurants to close to curb the spread of the virus. Required Identify the relevant assumptions, concepts or principles from the Conceptual Framework and how the assets and liabilities of the restaurant should be measured in the financial statements