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7 January, 13:02

Identify the accounting concept, assumption, or principle that best applies to each of the following situations: a. Inflation has been abound 2.5% for some time. VillageVillage Realtors is considering measuring its land values in inflation-adjusted amounts. b. You get an especially good buy on a laptoplaptop , paying only $ 300$300 when it normally costs $ 800$800. What is your accounting value for this laptoplaptop ? c. Burger KingBurger King , the restaurant chain, sold a store location to McDonaldMcDonald 's. How can Burger KingBurger King determine the sale price of the storelong dash-by a professional appraisal, Burger KingBurger King 's original cost, or the amount actually received from the sale? d. General MotorsGeneral Motors wants to determine which division of the companylong dash-ChevroletChevrolet or CadillacCadillaclong dash-is more profitable.

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  1. 7 January, 16:21
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    The list is follows:

    a. Inflation has been abound 2.5% for some time. Village Realtors is considering measuring its land values in inflation-adjusted amounts - Stable-monetary-unit assumption

    b. You get an especially good buy on a laptop , paying only $ 300$300 when it normally costs $ 800. What is your accounting value for this laptop? - Historical cost principle

    c. Burger King , the restaurant chain, sold a store location to McDonald. How can Burger King determine the sale price of the store long dash-by a professional appraisal, Burger King 's original cost, or the amount actually received from the sale? - Historical cost principle

    d. General Motors wants to determine which division of the company long dash-Chevrolet or Cadillac long dash-is more profitable - Entity assumption
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