For each of the following situations, indicate if it is an example of applying the cost constraint correctly. (Write “Yes” or “No” beside each item.) 

(a) ________The company corrects its financial statements and reissues its annual report after discovering some minor errors in the financial statements.

(b) ________Inventory is reported at cost when the fair value is higher.

(c) ________ The company expenses small inexpensive office equipment such as pencil sharpeners because of the high cost of tracking the equipment and recording depreciation on it.