Identify the accounting principle or assumption that best explains each situation 1. Stark Company's accounting system maintains the equipment account as if the business will continue operating and not close 2. 1 $51.000 cash is paid to buy land, the land is reported on the buyer's balance sheet at $51,000 3. Cruz Consulting performs services for a client. Cruz records revenue this period even though the client is not billed until next period. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required Stark company's accounting wstem maintains the equipment account as if the business will continue operating and not close. idendly which accounting participle or assumption bout describes the above practice Required 2 Business entity assumption Expense recognition (matching) principle General accounting principle Going-concem assumption Measurement (cost) principle 1. Stark Company's accounting system maintains the equipment account as if the business will continue operating and not close. 2. If $51,000 cash is paid to buy land, the land is reported on the buyer's balance sheet at $51,000. 3. Cruz Consulting performs services for a client. Cruz records revenue this period even though the client is not billed until next pe Complete this question by entering your answers in the tabs below. Required Required 2 Required Stark Company's accounting system maintains the equipment account as if the business will continue operating and not close. Identify which accounting principle or assumption best describes the above practice Required 2 Expense recognition (matching) principle General accounting principle Going concern assumption Measurement (cost) principle Revenue recognition principle Identify the accounting principle or assumption that best explains each situation 1. Stark Company's accounting system maintains the equipment account as if the business will continue operating and not close 2. If $51000 cash is paid to buy land, the land is reported on the buyer's balance sheet at $51,000 3. Cruz Consulting performs services for a client. Cruz records revenue this period even though the client is not billed until next period. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 If $51,000 cash is paid to buy land, the land is reported on the buyer's balance sheet at $51,000, Identity which accounting principle or assumption best describes the above practice