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B. For each of the following statements identify the accounting concept or convention that is most appropriate: a. Syakir set up a business assuming that

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B. For each of the following statements identify the accounting concept or convention that is most appropriate: a. Syakir set up a business assuming that the business will continue its operation for foreseeable future and will not liquidate. b. Izan bought a motor van costing RM100,000 in the year 2008 and still record the same amount in the statement of financial position as at 2012. C. Golfview Enterprise did not record the damage caused by fire in the financial statements eventhough it involved a significant amount

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