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4. each cast;; (1 Mark each) 5. b) State whether the FP, QC, or fC is beine followed or violated; (1 Mark each) ANa? 6. C) Brietly explain WHyhicoW do you think the FP, QG, or EC is being violated or followwed. (1 Mark rach) 11 3. A compamy's managetent records interest expense only on the payment dates. 12. 4. A cornpany's management team ahwars isstes its annual financial statements aine months after the end of the afinal feparting peniod because ther are just foo busy to complete them soonef. 5. Because the complary' net income is low this year, a switch from accelerated denreciation fo straight-line depreciation is made this year ty thin 15 nionshernetit of the company. 6. The peesident of Pita Corp, befieves it is foolish to report financial infarmation on a yearly basis. Instead, the president believes that financisi 14 Tinformation: hould be disclosed only when sienificant new infomation is available about the company's operabions. 15 clesting sccourit and charged the "Ofice Equipment" account. 17 7 instructions