## Answers

Answer-

a.Transactions are recorded in terms of units of money | money measurement or monetary measurement concept |

b. Transactions are recorded based on the actual amount received or paid | cash basis of accounting |

c. Indicates that personal and business record keeping should be kept separate | business entity concept |

d. Performance obligation has been satisfied | Revenue recognition |

e. Businesses are expected to continue operating indefinitely | Going concern concept |

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