The controller at Fresh Pride Grocer made the following change to the companys financial statements. Fresh Pride has a building purchased thirty years ago for its grocery store for $70,000. Based on inflation estimates, the amount of the building has been adjusted in the accounting records. The building is now reported at $95,000 in Fresh Pride Grocer's financial statements. Which of the following concepts or principles of accounting is being violated?

Group of answer choices

economic entity assumption

historical cost principle

revenue realization concept

going concern assumption