Marietta Corp. had the following reporting issues during the year For each of the situations, identify (a) the assumption or principle involved and (b) whether it is being followed correctly or has been violated (b) A surplus parcel of land with a cost of $150,000 intended for resale in the near future is reported at its current value of $160,000 (a) The of accounting is involved in this situation principle has not been violated (b) The e Textbook and Media Save for Later Attempts: 0 of 3 used Submit