Presented below are transactions that occurred during 2008.

1. Susan Scholz, the president of Lake of the Ozarks cabin properties, buys a computer for personal use and charges it to her company’s expense account.

2. In preparation of its financial statements, Ettredge Inc. omitted information about its method of accounting for accounts receivable.

3. To make its profits look better, Shanghai Automotive booked sales before its cars were shipped.

4. Jose Martinez reports all of its assets and liabilities at liquidation value, even though the company does not expect to go out of business in the foreseeable future.

5. Tom Hapgood writes up his inventory on the balance sheet since its market value is higher than its cost.

Required

For each of the above transactions, identify the assumption, principle, or constraint that has been violated