c. Identify the following concepts of the conceptual framework of accounting (5 points) Answer Case Type of Concept Ahlia Restaurant was formed in 1967. Principle It purchased a building soon after in 1970 for BD 20,000. Total, some 50 plus years later, Ahlia's is still in business. The original building is still on the balance sheet for BD 20.000 even though the current fair market value of the building is well over BD 200,000. I Page 2 XYZ company has two business Assumption divisions, a hotel and an auto- dealership. The expenses of hotel division are separated from the auto- dealership Manama company provides monthly Principle accounting services for clients. Ali, a client pays in advance for the entire year on January 2. Manama company records revenue each month through December, as services are rendered A media company has very talented. Assumption skilled and passionate designers and animators. The company cannot record them as their assets and cannot be expressed in Bahraini Dinars. Ahlia company should list the loans Principle along with terms, maturity dates, current portions, and collateral obligations attached to the loans in the notes of the financial statements. This gives investors and creditors can make their decisions much more easily