COUNTING CONCEPT/PRINCIPI II. IDENTIFY THE ACCOUNTI FACH OF THESE SITUATIONS. (2 Pts. Ea 5. (2 Pts. Each) CAPLE APPLICABLE 1 with a particular business and are Financial events can be identified with a not combined with those of the owner 2 Assets should be recorded at their original pri their original price paid. 3. Future economic benefits that can be expressed expressed in monetary terms 4 The business will continue to operate for a very long time Longevity financial statement users should 5 Information that makes a difference to financial statem be reported in the financial statements or the footnotes 6. Recording depreciation each period is necessary because of the _principle 7. Future economic benefits that can be expressed in monetary terms 8. The business will continue to operate for a very long time. 9. Information that makes a difference to financial statement users should be reported in the financial statements or the foothotes. V