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Identifying Violations of Accounting Assumptions and Principles Identify the accounting assumption or principle that is violated in each situation a through d. a. Although the

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Identifying Violations of Accounting Assumptions and Principles Identify the accounting assumption or principle that is violated in each situation a through d. a. Although the economic deterioration is expected to follow straight-line, for efficiency purposes, a company adopts an accelerated tax m b. A debt obligation of a fully owned subsidiary is excluded from the consolidated financial statements of the parent company. C. Because land has appreciated by over 500% since its original purchase, management thought that it would be more appropriate to repor d. A company did not report in a note to its financial statements information regarding litigation claims that were probable and estimable company adopts an accelerated tax method of depreciation for financial reporting purposes. nts of the parent company. at it would be more appropeiate to report land at fair value. aims that were probable and estimable becaune the company did not want any information published that could impact their legal defens

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