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This Qc Identify the accounting assumption, criteria, or objective that gives the most direction on how to account for each of the following situations The owner of a business desires monthly financial statements to measure the financial progress of the entity on an ongoing basis Exponses of $900 must be accrued at the end of the period to measure income properly A customer states her intention to switch travel agencies. Should the new travel agency record revenue based on this intention? Give the reason for your answer Expens of the period total 55,300. This amount should be subtracted from revenue to compute the periods net income For each shahion, select the acxounting concept or principle that gives the most direction on how to account for that situation we is ony one concept or prinople, oled and in the first cum second column Blank d. Accounting Concept(s) of Principles) for concierto s Question: 1 pt a, or objective that gives the most direction Accrual accounting en Cash-basis accounting Cost principle Entity concept Going-concem concept Matching objective Recognition criteria for revenue Reliability principle Time-period assumption nthly financial statements to measure the fin at the end of the period to measure income vitch travel agencies. Should the new travel a This amount should be subtracted from reve . Fori seco concept or principle that gives the most directie 5) or Principle(s) a. b. c. d. For situation c., complete the following: Choose from any drop-down list and then continue to the next question. For situation c., complete the following: Should the travel agency record revenue based on this intention? The travel agency should not record revenue because Choose from any drop-down list and then continue to the next question. 4