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Question: Sami company purchased a land in 2007 for $290,000. In 2017, it purchased a nearly identical land for $460,000. In its 2017 balance sheet,

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Question: Sami company purchased a land in 2007 for $290,000. In 2017, it purchased a nearly identical land for $460,000. In its 2017 balance sheet, the company valued these two lands at a combined value of $920,000. By reporting the lands in this manner, Sami company has violated the: a. Full disclosure principle b. Economic entity assumption c. Monetary unit assumption d. Historical cost principle 19 1 & 7 2 T 3 4 E 5 O 6 > 8 9 0 Q E 2 Y U TUR 0 us W UD R F P] 3 1 V

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