Draw Design Layout References Mailings Review imes New Rom 14 -A A Aa A v BIU ab X, X APA-EESTE Font Paragraph 1. .2. ..3. ..4 56 1. The group that attempts to create more harmony among the accounting practices of different countries is the A. AICPA B.LASB. C. CAP. D. SEC. E. FASB 2. The private group that currently has the authority to establish generally accepted accounting principles in the United States is the A. APB. B. FASE CALA D. AICPA E. SEC. 3. The rule that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidence shows that it will not continue is the A. Going-concem assumption B. Business entity assumption C. Objectivity principle. D. Cost Principle. E. Monetary unit assumption 4. If a parcel of land that was originally acquired for $85.000 is offered for sale at $130.000, is t ed for tax purposes at $95.000, is recognized by its purchasers as easily being worth $140,000, and is sold for $137,000, the land should be recorded in the purchaser's books at: A. $95.000 B. $137,000. C 5135,500 D. $140,000 E. 5150,000 search