Three of the four basic assumptions that underlie accounting measurement and reporting relate to the statement of ﬁnancial position.

Name: Three of the four basic assumptions that underlie accounting measurement and reporting relate to the statement of ﬁnancial position.
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The three assumptions that relate to the statement of financial position are economic entity, monetary unit, and time period. The fourth assumption, going concern, relates to the statement of comprehensive income.

Three of the Four Basic Assumptions That Underlie Accounting Measurement