For each itern that follows, identify the foundational principle of accounting that best describes it. (a) Periodicity (b) For its annual reports, Sumseng Corp. divides its economic activities into 12 month periods. Sullivan, Inc. does not adjust amounts in its financial statements for the effects of inflation Kiran Ltd. reports current and non-current classifications in its statement of financial position. (c) Matching Control Going concern Recognition Economic unity PC Monetary unit Full dosure Historical Fair value Recognition d) in preparing its consolidated financial statements. Paddy Corporation assesses whether it has the power to direct the other entity's activities Jaspreet Corporation reports revenue invits income statement when it learned, even if cash has not been collected Duong Enterprises normally includes business transactions in its general ledger when the item meets the definition of an element is defined in the conceptual framework and the item is measurable le) ( Gomezin provides information about pending lawsuits in the notes to the statements (h) > D&H Farms reports land on its statement of financial position at the amount paid to acquireit. even though the estimated fair value is higher. King Corporation uses fair value measurements for its financial instruments portfolio. 00)