000 Nashorn Inc. purchased a piece of land using $250,000 cash. During the purchase, an assessment was done and it was discovered that large tracts of the land is polluted and would require $100,000 of rehabilitation work to be conducted prior to use. Therefore, Nashorn Inc. records a $100,000 loss on purchase and records the land at $350,000 on their balance sheet. Which of the following accounting principles was violated? No accounting principles were violated. Nashorn's financial statements are prepared in accordance with US GAAP. Conservatism Historical cost Expense recognition