Essay
Presented below are some business transactions that occurred during 2013 for Cahill Company: Instructions
For each situation above, identify the assumption, concept, or constraint that has been violated, if any. If the entry is incorrect, prepare the entry that should have been made, if any.
Correct Answer:

Verified
Correct Answer:
Verified
Q19: In order to assess the financial performance
Q20: Consistency occurs when companies with similar circumstances
Q21: Which of the following is a constraint
Q22: For each of the independent situations described
Q23: Going forward, there will be two sets
Q25: If a company is not a going
Q26: One of the conditions of recognizing revenue
Q27: If a company provides refunds to customers
Q28: Canadian and International standards are based on
Q29: Under IFRS, a company can never change