(a) Maria, a bank lending officer, is studying the financial statements of Vault, a proprietorship selling dry fruits. She notes the following in her review: (a) Rent expense includes rent for the proprietor's home. (b) The company has moved from credit to cash-on-delivery terms with suppliers. (c) The cost of land was recorded as 100,000, its estimated market value, rather than its purchase price of 60,000 two years ago. Explain whether Vault's financial statements violate, or potentially violate, any accounting principles or assumptions.