Question 2 (2 points) Each of the following independent situations represents a departure from generally accepted accounting principles. For the situation, (1) identify which principle has been violated, (11) describe what the correct accounting treatment would be, and (ru) why the correct treatment provides better information Value Properties owns a number of apartment buildings. In April 2007 a new building was purchased for $1,000,000. Because of the rapid increase in real estate prices, by the time Value's accountant recorded the purchase in July 2007, the estimated value of the property had increased to $1,200,000. The accountant decided to record the new building at $1,200,000