Which of the following is NOT one of the assumptions in financial accounting?

The market value assumption is not recognized as one of the fundamental assumptions in financial accounting. In financial accounting, the main assumptions include the monetary unit, which establishes that all financial transactions should be recorded in a single currency; the time period assumption, which divides the financial statements into specific time frames (like quarters or years); and the full disclosure principle, which requires that all relevant financial information be disclosed in the financial statements.

These assumptions provide a framework that ensures consistency and clarity in financial reporting, enabling users to make informed decisions based on the information presented. In contrast, the concept of a "market value assumption" does not exist as an established principle or guideline in financial accounting standards. Instead, market value concepts are often more relevant in investment analysis or financial markets, which are outside the core principles of financial accounting.