Mark done Fundamentals of Accounting Test-1- Kindly write your answer in the space provided. (No upload of document required.) Q. No. 1- For each of the following, identify which of the GAAP was violated by ABC Inc. In case where more than one GAAP applies, name the primary GAAP that was violated. a. b. C. d. ABC Inc. performed work for a client located in China and collected 8,450,000 RMB, the Chinese currency, the equivalent of about $1,320,000 Canadian. ABC Inc. recorded it as 8450,000. e. ABC Inc. collected $180,000 from a customer on Dec. 20, 2020, for work to be done in February 2021. The $180,000 was recorded as revenue during 2020. ABC's year end is December 31. ABC's December 31, 2020, balance sheet shoed total assets of $840,000 and liabilities of $1120,000. The income statements for the past six years have shown a trend of increasing losses Included in ABC's assets was land and building purchased for $310,000 and reported on the balance sheet at $470,000. ABC's owner, Tom Del, consistently buys personal supplies and charges to them to the company.