Below are the four underlying assumptions of generally accepted accounting principles. Assumptions                            Descriptions 1. Economic entity  2. Going concern 3. Periodicity 4. Monetary unit   a. A common denominator is needed to measure all business activities. b. Economic events can be identified with a particular economic body. c. In the absence of information to the contrary, it is anticipated that a business entity will continue to operate indefinitely.  d. The economic life of a company can be divided into artificial time intervals for financial reporting. Required:Match each business assumption with its description.

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