Answer this with explanation Directions: State what accounting principle has been applied on each number.Choose your answers from the box. Write your answers on a separate sheetof paper.MaterialityConservatismMonetary unitCostTime periodObjectivityDisciosureRevenue RecognitionGoing ConcernBusiness entityJ. Mr. Lopez has his shoe branch in America and the financial records there are indollars.6. Ms. Maricar kept all the relevant information on the accounting firm she is workingon and she ensured that everything was written and recorded on the financialrерorts.7. Vien is a cashier in a supermarket. She ensures that all transactions are rightlyrecorded.

Monetary unit principle in accounting says that all transactions and events in the business should…

Answered: Directions: State what accounting…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter1: Introduction To Accounting

Section: Chapter Questions

Problem 6RQ

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College Accounting, Chapters 1-27

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