For each independent situation below, you're required to identify the related accounting concept and conventions and state you agree or disagree with the accounting treatment. Agree! Accounting disagree concept 1. A company continues in business even though its founder died. 2. Jumbo Supermarket sells all kinds of groceries for its customers. It records all the purchases and sales in the accounting books in terms of RM. The RM is remaining unchanged over the time 3. Last year, Zahirah's Market purchased a double story shop house at a cost of RM1 million. This year it is valued at RM2.7 million. However, the company continues to record in its book the value of the shop house at RM1 million 4. Mr Wong has miss recorded a purchase on an asset amounted RM100. This asset was found not to have useful life more than one year. 5. An accountant of Johan Ltd, decided to record the deposit payment for services as revenue for the year 2020 although the services is for 2021. 6. A business pays for the owner's personal life insurance policy and the amount is considered as a business item