Exercise 4 Identify the appropriate accounting assumption, principle or concept: a. We have bought one store that was located in our neighborhood. At what amount do we record the purchase in our accounting records? b. We have bought inventory for our store for AED 10,000. We got 5 pallets of that inventory. Do we write 5 pallets in our accounting records, or AED 10,000? c. Our company has 2 divisions. One in Chicago and one in Los Angeles. We were comparing both d. We have determined that the economy hit us badly. We must declare bankruptcy