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Question 17 Lopez Co. had three major business transactions during 2017 In each sihuation, identity the assumption or principle that has beon violated Reported at
Question 17 Lopez Co. had three major business transactions during 2017 In each sihuation, identity the assumption or principle that has beon violated Reported at its fair value of $260,000 merchandise inventory with a cost of $208,000. The president of Lopez Co, Victor Loper, purchased a truck for personal use and charged it to his expense account Lopez Ca. wanted to make its 2017 Klme look better, so it added its incane statenet reporting 2 more weeks to its income statement reporting period (a 54 week year). Previous years were 52 wee
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