Final answer:
Lawton Corporation records business transactions in dollars and disregards changes in the value of a dollar over time. This represents the monetary unit assumption in accounting.
Step-by-step explanation:
The correct accounting assumption that Lawton Corporation represents is the monetary unit assumption. This assumption assumes that the monetary unit being used (in this case, the dollar) is stable and constant over time. By disregarding changes in the value of the dollar over time, Lawton Corporation is assuming that the dollar has the same purchasing power in every transaction.