Accounting Assumptions, Principles, and Constraints

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XACC280, FINANCIAL ACCOUNTING,
Week 1 CheckPoint 1, Accounting Assumptions, Principles, and Constraints
Write an essay in 250 to 300 words, including the following:
The basic assumptions of accounting
The principles of accounting
The constraints of accounting
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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