Presented below are the assumptions, principles, and constraints. 1. Economic entity assumption 2. Going concern assumption 3. Monetary unit assumption 4. Periodicity assumption 5. Historical cost principle 6. Fair value principle 7. Expense recognition principle 8. Full disclosure principle 9. Cost-benefit relationship 10. Materiality 11. Industry practices 12. Conservatism Instructions: Identify by number the accounting assumption, principle, or constraint that describes each situation. NOTE: Do not use a number more than once. (a) Allocates expenses to revenues in the proper period. (b) Indicates that fair value changes subsequent to purchase are not recorded in the accounts. (c) Ensures that all relevant financial information is reported. (d) Rationale why plant assets are not reported at liquidation value. (e) Anticipates all losses, but reports no gains. (f) Indicates that personal and business record keeping should be separately maintained. (g) Separates financial information into time periods for reporting purposes. (h) Permits the use of fair value valuation in certain industries. (i) Requires that information significant enough to affect the decision of reasonably informed users should be disclosed. (j) Assumes that the dollar is the measuring stick used to report on financial performance