Read the following scenarios then select the correct accounting doctrine/convention from the list:

Accounting entity convention

Accounting period convention

Going concern convention

Monetary Convention

Historical cost convention

Recognition of law

Consistency convention

Doctrine of Disclosure

Doctrine of Materiality

Doctrine of Conservatism

a) Rhonda is the owner of Flowers on the Go, an online supplier of floral arrangements. She is paid a salary every week by her business. Over the years Rhonda has built up a personal investment portfolio, purchased from her salary earnings. Rhonda's investment portfolio is shown in the accounting records on the floral business

b) Rhonda purchased a delivery van for her business 3 years ago for $25,000. She has been advised that the van is now only worth $7,000 and wants to change the asset value in her records.