Xacc 280 week 1 checkpoint accounting assumptions, principles, and

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Week 1 CheckPoint: Accounting Assumptions, Principles, and Constraints

 

• Write an essay in 250 to 300 words, including the following:

 

o The basic assumptions of accounting

 

o The principles of accounting

 

o The constraints of accounting

 

o A conclusion stating how you think sound financial reporting depends on principles,

 

assumptions, and constraints. Refer to the U.S. GAAP in your response.