ter 2 Question 16 of 17 View Policies Current Attempt in Progress Identify the accounting assumption or principle that is described below. (a) Belief that a company will remain in business for the foreseeable future. (Note: Do not use the historical cost principle.) (b) Indicates that personal and business recordkeeping should be separately maintained. Full Disclosure Principle Going Concern Assumption Monetary Unit Assumption Periodicity Assumption Historical Cost Principle Economic Entity Assumption (c) Only those things that can be expressed in money are included in the accounting records. (d) . Separates financial information into time periods for reporting purposes. le) Measurement basis used when a reliable estimate of fair value is not available. (0) . Dictates that companies should disclose all circumstances and events that make a difference to financial statement users. e Textbook and Media Save for Later Attempts: 0 of 10 used Submit