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Identify the accounting assumption or principle that is described below. (a) Belief that a company will remain in business for the foreseeable future. (Note: Do

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Identify the accounting assumption or principle that is described below. (a) Belief that a company will remain in business for the foreseeable future. (Note: Do not use the historical cost principle.) (b) Indicates that personal and business recordkeeping should be separately maintained. (c) Only those things that can be expressed in money are included in the accounting records. (d) Separates financial intormation into time periods for reporting purposes. (e) Measurement basis used when a reliable estimate of fair value is not available. (1) Dictates that companies should disclose all circumstances and events that make a difference to financial statement users. Classify each of the following financial statement items taken from Ming Corporation's balance sheet Accounts payable Accouna receivable Accumulated depreciation-equipment Buildings Cash Interest payable Goodwill Income taxes payable Inventory Stock investments (to be sold in 7 months) Land (in use) Mortgage payable Supplies Equipment Prepaid rent

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