equirement

Select the concept that is violated in each of the following$$ cases: $($If a concept is not violated please select$$ "None".$)$

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Part $1$

Part $2$

a$.$

Management examined registration and legal fees for a trademark, and determined that it should record a trademark for $$5,000.$

None

b$.$

Katia Clothing, a U$.$S$.$ GAAP reporter, purchased land five years ago and recently had it appraised for $$65,000.$ The company reported this amount on its most recent balance sheet.

Historical cost concept

c$.$

Edward McCormick owns two separate businesses: EMC Enterprises and Edward Associates. McCormick regularly pays the property taxes for EMC from the checking account of Edward Associates.

Business entity concept

d$.$

US Motors Inc. recently decided to recall $400,000$ vehicles for a safety concern. US Motors did not report this information in its annual report.

e$.$

Abare Company purchased new equipment for $$2,500,000$ and charged it to operating expenses on its most recent income statement.

f$.$

Beeke Brothers Incorporated decided not to report its quarterly results to its shareholders.