At the end of its 2020 fiscal year, Dower, Incorporated, received an order from a customer for

$45,350

. The merchandise will ship early in 2021. Because the sale was made to a long-time customer, the controller recorded the sale in 2020.\ At the beginning of its 2020 fiscal year, Rossi Imports paid

$48,000

for a two-year lease on warehouse space. Rossi recorded the expenditure as an asset to be expensed equally over the two-year period of the lease.\ The Reliable Tire Company included a note in its financial statements that described a pending lawsuit against the company.\ The Hughes Corporation, a company whose securities are publicly traded, prepares monthly, quarterly, and annual financial statements for internal use but disseminates to external users only the annual financial statements.\ \\\\table[[Situation,Agree/Disagree,Reason],[1.,Disagree,This is a violation of the historical cost (original transaction value) principle.],[2.,Disagree,The company is conforming to appropriate revenue recognition.],[3.,Disagree,This is a violation of appropriate revenue recognition.],[4.,Agree,The company is conforming to appropriate expense recognition.],[5.,Agree,The company is conforming to the full disclosure principle.],[6.,Disagree,The company is conforming to the periodicity assumption.]]

3. At the end of its 2020 fiscal year, Dower, Incorporated, received an order from a customer for $45,350. The merchandise will ship early in 2021. Because the sale was made to a long-time customer, the controller recorded the sale in 2020. 4. At the beginning of its 2020 fiscal year, Rossi Imports paid $48,000 for a two-year lease on warehouse space. Rossi recorded the expenditure as an asset to be expensed equally over the two-year period of the lease. 5. The Reliable Tire Company included a note in its financial statements that described a pending lawsuit against the company. 6. The Hughes Corporation, a company whose securities are publicly traded, prepares monthly, quarterly, and annual financial statements for internal use but disseminates to external users only the annual financial statements