Michael McBanee us the proprietor of a property management company. Apartment Exchange, near the campus of Penseels State College. The business has cash of $0.000 and humiliate that cost $9,000 and has a market value of $13,000. The business debts induce accounts payatile of $6,000. Michael's personal homs is valued of $400,000, and his personal bank account has a balance of $1, 200. Identity the principle or assumption that best mulches the solution: a. Michael's personal assets are not recorded on the Apartment Exchange's balance sheet. b. The Apartment Exchange recorded furniture at its cost is $9,000, not its market value of $13,000. c. The Apartment Exchange recorded its financial to remain in operations for the foreseeable future. a. Michael's personal assets are not recorded on the company's balance sheet b. The company records future at its cost of $9,000, not its madcap value of $13,000