Identify which accounting principle or assumption best describes each of the following practices 1. 1 $51 thousand cash is paid to buy land, the land is reported on the buyer's balance sheet at $51 thousand. 2. Cruz Consulting performs services for a client. Cruz records revenue this period even though the client is not billed until next period, 3. Mike Derr owns both Sailing Passions and Dockside Digs. In preparing financial statements for Dockside Digs, Mike makes sure that the expense transactions of Sailing Passions are kept separate from Dockside Digs's transactions and financial statements. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 If $51 thousand cash is paid to buy tand, the land is reported on the buyer's balance sheet at $51 thousand. Identity which accounting principle or assumption best describes the above praction Ribeired Required 2 Business entity assumption Expense recognition (matching) principle General accounting principle Going concern assumption Measurement (cost) principle Revenue recognition principle Identify which accounting principle or assumption best describes each of the following practices: 1. If $51 thousand cash is paid to buy land, the land is reported on the buyer's balance sheet at $51 thousand. 2. Cruz Consulting performs services for a client. Cruz records revenue this period even though the client is not billed until next 3. Mike Derr owns both Sailing Passions and Dockside Digs. In preparing financial statements for Dockside Digs, Mike makes sur the expense transactions of Sailing Passions are kept separate from Dockside Digs's transactions and financial statements Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Cruz Consulting performs services for a client. Cruz records revenue this period even though the client is not billed until next period. Identify which accounting principle or assumption best describes the above practice