(xi)The _requires that the personal assets of the owner of an accounting entity to not appear on the entity's statement of financial position. (xii) An entity should use the same accounting policies and methods for recording similar events or transactions from one financial period to another. This statement relates to the (xiii) The _directs an entity to show all the expenses related to its revenues of a specified period even if the expenses were not paid in that period. (xiv) When the accountant has to choose between two acceptable alternatives, the accountant should select the alternative that will report less profit, less assets amount, or a greater liability amount. This is based on the (xv) According to the the indefinite life of an accounting entity can be broken down into time periods and accountants can measure its operating performance at short time intervals.