4. Identify the assumption represented in each scenario below, and state if it is satisfied or violated: Scenario Assumption Satisfied or Violated a. Bettas Inc. adjusted valuation of balance sheet item to keep up with changes in inflation b. Soundness Inc. is facing bankruptcy - they choose not to list assets and liabilities at values on the balance sheet. c. Woods Co. issues quarterly and annual financial statements to external users. d. TNT Studio's president only uses the company limo for business purposes. 4. Identify the assumption represented in each scenario below, and state if it is satisfied or violated: Scenario Assumption Satisfied or Violated a. Bettas Inc. adjusted valuation of balance sheet item to keep up with changes in inflation b. Soundness Inc. is facing bankruptcy - they choose not to list assets and liabilities at values on the balance sheet. c. Woods Co. issues quarterly and annual financial statements to external users. d. TNT Studio's president only uses the company limo for business purposes