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<p>Which of the following statements about accounting concepts and conventions are correct?</p><p><br/>(1)  The entity concept requires that a business is treated as being separate from its owners.<br/>(2)  The use of historical cost accounting tends to understate assets and profit when prices are rising.<br/>(3)  The prudence concept means that the lowest possible values should be applied to income and assets and the<br/>       highest possible values to expenses and liabilities.<br/>(4)  The money measurement concept means that only assets capable of being reliably measured in monetary terms<br/>       can be included in the balance sheet of a business.<br/>A    1 and 2<br/>B    2 and 3<br/>C    3 and 4<br/>D    1 and 4</p><p>D</p> C <p>ding o </p>页: 
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