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28. Dirt Company purchased land for $5 million dollars in 1998. At December 31, 2020 the land had a market value of $15 million. On

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28. Dirt Company purchased land for $5 million dollars in 1998. At December 31, 2020 the land had a market value of $15 million. On the December 31, 2020 balance sheet Dirt valued the land at $15 million. Which of the following GAAP concepts did Dirt violate? A. Historic cost concept B. Matching principle C. Separate entity assumption D. There was no violation

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