1. What are two possible attributes to be measured when an item is to be included in financial statements? What unit of money is used to measure items in the United States? 2. Explain whether a...

1. What are two possible attributes to be measured when an item is to be included in financial statements? What unit of money is used to measure items in the United States?

2. Explain whether a company must have an inflow of an asset to be able to recognize revenue. Also, give two examples of situations in which revenue is earned continuously over a period of time.