Question 1 [5 points) of the five Generally Accepted Accounting Principles (GAAP) introduced in this section, identify which broad accounting principle describes most directly each of the following. a) select answer Each economic entity or business of the owner must keep accounting records and reports that are separate from those of the owner and any other economic entity of the owner. b) select answer A business is assumed to continue to operate into the foreseeable future. c) select answer Incomplete Data Co. applied for a $150,000 bank loan. The bank received the business's financial statements from an independent accountant whose review indicated that incomplete Data Co. had presented their accounting information fairly and that they had strong future potential d) select answer Revenues are recorded when they are earned, regardless of when cash is received. e) select answer If a company uses current market value to report the value of its assets on the balance sheet, the company would be violating which principle