Ms. Sandipa is the accounts executive for a company called SS Enterprises. Her job description requires her to supervise the process of recording of the transactions of business and to ensure that all accounting assumptions are taken care of. However, her junior executive is confused about the concepts of the accounting period assumption and the Separate entity assumption.

Elaborate on how Sandipa can explain the concepts to her junior with the help of a suitable example. (20 Marks)

The above question contains 20 Marks. As per University guidelines, the answer should be a min of 800 words. If possible then only prepare. If you provide 400 / 500 words its not useful for me. Pls ensure need a min of 800 words answer.