Question 9 of 10 -/1 !!! View Policies Current Attempt in Progress What accounting assumption, principle, or constraint would Marks and Spencer plc (M&S) (GBR) use in each of the situations below? a. M&S records expenses when incurred, rather than when cash is paid. b. M&S was involved in litigation over the last year. This litigation is disclosed in the financial statements. C. M&S allocates the cost of its depreciable assets over the life it expects to receive revenue from these assets. Revenue Recognition Principle Expense Recognition Principle Historical Cost Principle Cost Constraint Periodicity Industry Practices Monetary Unit Full Disclosure Economic Entity Going Concern d. M&S records the purchase of a new Lenovo (CHN) PC at its cash equivalent price. e Textbook and Media Save for Later Attempts: 0 of 3 used Submit