Required:Identify the assumption or principle that best describes each situation

Required:Identify the assumption or principle that best describes each situation below.a. Specifies that revenue should only be recognized when earned and realizedb. Requires that an activity be recorded at the exchange price at the time the activity occurredc. Allows a company to report financial activities separate from the activities of the ownersd. Implies that items such as customer satisfaction cannot be reported in the financial statementse. Requires that expenses be recorded and reported in the same period as the revenue that it helped generatef. Justifies why some assets and liabilities are not reported at their value if soldg. Allows the life of a company to be divided into artificial time periods so accounting reports can be provided on a timely basish. Is a prudent reaction to uncertainty