Part II (16 points): Fill in the blank with appropriate Concepts or phrase. from the list of accounting principles, assumptions or accounting quality summarized in the conceptual frame work or other phrases & accounting concepts. 1 -- All types of dividends reduced Retained earnings except .Dividends 1 Enable Editing 2- All types of dividends should be recorded as liabilities when declared except for ... dividends. 3- ..means that Financial information presented in FR should reflect reality so that investor will not be misled ch list 4- provide justification for the depreciation process and for 3- classification of assets & liabilities into current & concurrent. -5---------- - Hold that income achieved only if end of the period money amount of net assets) exceeds beginning of the period money amount of net assets. d Rends 6- The --assumption is not valid if the economy is experiencing a high rate of inflation. 6:16 AM ) ENG E