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Martin Corporation purchased land in 2 0 0 7 for $ 2 9 0 , 0 0 0 . In 2 0 1 3 ,
Martin Corporation purchased land in for $ In it purchased a nearly identical parcel of land for $ In its balance sheet, Martin valued these two parcels of land at a combined value of $ By reporting the land in this manner, Martin Corp. has violated the
economic entity assumption
convergence
cost principle
monetary unit assumption
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