Market value is used by companies for the valuation of certain securities that

are regularly bought and sold.

After initial acquisition, the entity values land at its original transaction price.

All significant post$-$balance sheet events are reported.

Revenue is recorded at the point of sale.

All important aspects of bond indentures are presented in financial statements.

The rationale for accrual accounting is stated.

The use of consolidated statements is justified.

Economic entity and control

Reporting must be done at defined time intervals.

An allowance for doubtful accounts is established.

Goodwill is recorded only at the time of a business combination and does not

change unless the goodwill becomes impaired.