QUESTIONS Which of the following assumptions implies that the life of a company can be reported in shorter periods? O a separate entity assumption b. Monetary unit assumption Oc Time period assumption O d. Going concern assumption QUESTION 6 If an adjusting entry is made in order to recognize depreciation expense, the entry also impacts which of the following accounts? O a. Allowance for depreciable assets 16. Accumulated depreciation OC. Property, plant and equipment O d. Depreciation payable