Cate your answers by writing capital letters in the spaces provided. 1. The requirement that only transaction data capable of being expressed in terms of money be included in the accounting records relates to the a. cost principle. b. monetary unit assumption. c. economic entity assumption d. both a and b above. 2. Financial statements combining the operations of Sears, Canadian Tire, and Shoppers Drug Mart would violate the a. monetary unit assumption. b. economic entity assumption c. cost principle. d. both a and c above. 3. Although a separate legal entity, the transactions of the following still must be kept separate from the personal activities of the owners for accounting purposes: a. Proprietorship b. Partnership c. Corporation d. Both a and b above. 4. The average time that is required to go from "cash to cash" in producing revenues is referred to as the a. business cycle. b. operating cycle c. fiscal year cycle. d. accounting cycle. 5. An accrued revenue account represents revenue that has a. been earned and received. b. been received but not earned. c. not been earned or received. d. been earned but not received. 6. The net book value of an amortizable asset is defined as the asset's a. cost less accumulated amortization. b. current market value. C. replacement cost. d. cost