Presented below are a number of accounting procedures and practices at corporations. For each of these items list the assumption,principle,qualify,or modifying convention that is violated. 1) because the company income is low this year, a switch from accelerated depreciation to straight line depreciation is made this year 2) the president of corporations believe it is foolish to report financial information on a yearly basis. Instead, the president believes that financial information should be disclosed only when significant new information is available related to to the company operations.3) Corp. decide to establish a large loss and related liability this year because of the possibility that it may lose a pending patent infringement lawsuit. The possibility of loss is considered remote by its attorney.4) An officer of Corp. purchased a new home computer for personal use with company money, charging miscellaneous expenses. 5) A machine, that cost $40,000 is report at its current market value of $45,000.