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5_XACC 280 week 1 CheckPoint Accounting Assumptions, Principles, and Constraints
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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.

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