Current Attempt in Progress Here are some of the accounting concepts relating to the conceptual framework discussed in this chapter: 1. Going concern assumption 2. Reporting entity 3. Full disclosure 4. Monetary unit 56 5. 6. Cost constraint Periodicity (a) (b) Periodicity Identify the foundational concept, assumption, or constraint that describes each situation below. is why land is reported as a non-current asset. indicates that personal and business record keeping should be kept separate. Monetary Unit (c) Going Concern Assumption ensures that all relevant financial information is reported. Reporting Entity Concept Cost Constraint (d) Full Disclosure (e) explains why Canadian companies report financial information in Canadian dollars. explains how to divide up economic activities into distinct time periods.