2 For each of the following 7 situations, in the space provided below: 3 each case; (1 Mark each) 5 b) State whether the FP, QC, or EC is being followed or violated; (1 Mark each) AND 6 c) Briefly explain WHY/HOW do you think the FP, QC, or EC is being violated or followed. (1. Mark each) 8 The following 7 situations are provided below: 9 from its consolidated financial results. It is deemed that Parent's management can direct and influence subs's affairs and activities. 10 greater than the purchase price. 3. A company's management records interest expense only on the payment dates. are just too busy to complete them sooner. management of the company. 6. The president of Pita Corp. believes it is foolish to report financial information on a yearly basis. Instead, the president belial information should be disclosed only when significant new information is available about the company's operations. 7. Donald Triumph, owner of Hotels R Us, bought a computer for his own use. He paid for the computer by writing a cheque on the company's chequing account and charged the "Office Equipment" account. nstructions 1 Conceptual Framework (V1) New. \begin{tabular}{|l|l} \hline 43 & a) \\ \hline & b) \\ \hline & c) \end{tabular} \begin{tabular}{|l|l} \hline 5 & a) \\ \hline & b) \\ \hline & c) \\ \hline \end{tabular} \begin{tabular}{l|l} \hline 6 & a) \\ \hline & b) \end{tabular} c) 2 For each of the following 7 situations, in the space provided below: 3 each case; (1 Mark each) 5 b) State whether the FP, QC, or EC is being followed or violated; (1 Mark each) AND 6 c) Briefly explain WHY/HOW do you think the FP, QC, or EC is being violated or followed. (1. Mark each) 8 The following 7 situations are provided below: 9 from its consolidated financial results. It is deemed that Parent's management can direct and influence subs's affairs and activities. 10 greater than the purchase price. 3. A company's management records interest expense only on the payment dates. are just too busy to complete them sooner. management of the company. 6. The president of Pita Corp. believes it is foolish to report financial information on a yearly basis. Instead, the president belial information should be disclosed only when significant new information is available about the company's operations. 7. Donald Triumph, owner of Hotels R Us, bought a computer for his own use. He paid for the computer by writing a cheque on the company's chequing account and charged the "Office Equipment" account. nstructions 1 Conceptual Framework (V1) New. \begin{tabular}{|l|l} \hline 43 & a) \\ \hline & b) \\ \hline & c) \end{tabular} \begin{tabular}{|l|l} \hline 5 & a) \\ \hline & b) \\ \hline & c) \\ \hline \end{tabular} \begin{tabular}{l|l} \hline 6 & a) \\ \hline & b) \end{tabular} c)