Roger levin owns and manages forever yours jewelers in a midwestern city. sales clerks are especially trained in meeting customer needs, and the levin family itself is committed to promoting the image of the store and its products and services. levin buys frequent spots on a local radio station, and holds monthly giveaway contests to give away $200 items of the winner's choice. founded by levin's grandfather, the family-owned business has been around for 65 years and enjoys an enviable reputation in the community. recently, an article appeared in the local newspaper revealing levin's contributions to local charities. the clerks at forever yours contribute to promotion through

Identify the accounting assumption or principle that is described below. (a) select the accounting assumption or principle is the rationale for why plant assets are not reported at liquidation value. (note: do not use the historical cost principle.) (b) select the accounting assumption or principle indicates that personal and business record-keeping should be separately maintained. (c) select the accounting assumption or principle assumes that the dollar is the "measuring stick" used to report on financial performance. (d) select the accounting assumption or principle separates financial information into time periods for reporting purposes. (e) select the accounting assumption or principle measurement basis used when a reliable estimate of fair value is not available. (f) select the accounting assumption or principle dictates that companies should disclose all circumstances and events that make a difference to financial statement users.

Morgana company identifies three activities in its manufacturing process: machine setups, machining, and inspections. estimated annual overhead cost for each activity is $168,000, $315,900, an $97,200, respectively. the cost driver for each activity and the expected annual usage are number of setups 2,100, machine hours 24,300, and number of inspections 1,800. compute the overhead rate for each activity. machine setups $ per setup machining $ per machine hour inspections $ per inspection

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