Question

accounting assumption
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Answer 1

sooo ez

Accounting assumptions defined as rules of action or conduct which are derived from experience and practice, and when they prove useful, they become accepted principles of accounting.

Answer 2

Explanation:

There are four basic assumptions of financial accounting: (1) economic entity, (2) fiscal period, (3) going concern, and (4) stable dollar. These assumptions are important because they form the building blocks on which financial accounting measurement is based