Question 32 (3 points) Identify the accounting assumption that best applies to each of the following situations. Note: The same assumption can be used multiple times. > If Rainbow Colour Supplies Inc. had to liquidate its assets, their value would be $400,000 less than the carrying amounts of the assets. Which assumption provides guidance on whether this amount should be reported in the financial statements? Inflation affects the amounts that Ricoh must pay for their printers. To show the effects of inflation, net income would drop by $3,000. Which assumption provides guidance on the reporting decisions in this situation? The vendor, Carla Parshini, organizes their business as a corporation. They wonder 1. Historical-cost assumption 2. Going-concern assumption 3. Separate-entity assumption 4. Stable-monitary-unit assumption