Reference no: EM132925377

Question - The following situation relates to the Weller Inc. of a particular month.

i) Acceptable accounts are recorded for sale in the account without waiting for receipt of cash.

ii) Goodwill is only recorded at the time of purchase.

iii) Confirms that all relevant financial information has been reported.

iv) Indicates that the preservation of personal and business records should be maintained separately.

v) Separate the financial period for the purpose of reporting.

vi) Suppose the money is a "measuring stick" used to report on the financial performance of a Bangladeshi company.

Required - Identify and explain your accounting assumptions, policies or limitations that describe each of the above situations.