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Use the following to answer questions 29-32 Match the four underlying assumptions of Generally accepted...

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Accounting

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Use the following to answer questions 29-32 Match the four underlying assumptions of Generally accepted Accounting Principles with its description Assumption Economic entity 29 . 30 Going concern Description In the absence of information to the contrary, it is anticipated that a business entity will continue to operate indefinitely The economic life of a company can be divided into artificial time intervals for financial reporting A common denominator is needed to measure all business activities Economic events can be identified with a particular economic body 31 Periodicity 32 Monetary unit

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