In each of these circumstances, the accounting practices may be questioned. Indicate whether you agree or disagree with the accounting practice employed and state the assumptions, concepts, or principles that justify your position. 1. The salaries paid to the top officers of the company were charged to expense in the period in which they were incurred even though the officers spent over half of their time planning next year's activities. 2. No entry was made to record the belief that the market value of the land owned (carried in the accounts at $800,000) had increased. 3. The acquisition of a tract of land was recorded at the price paid for it of $400,000, even though the company would have been willing to pay $600,000. 4. A truck acquired at the beginning of the year was reported at year-end at 80% of its acquisition price even though its market value then was only 65% of its original acquisition price.