The Conventions is conservatism and full disclosure principle. The company should be to principle of f Scenario 1 The convention is materiality. In materiality, trivial matters disregarded and only impc financial statements are being made with the asumption the company will continue to hc Scenario 2 mat The accounting conventions are conservatism, with principle full disclosure, matching cor show the lowest anticipated net income. Having a new accrual system in place, would m must be recognized within the same month as services rendered. This wo Scenario 3 The convention is materiality, and full disclosure principle. The error found in the previou show the actua Scenario 4 The answers are matching concept and revenue recognition principle. All revenues sho debts should be recognized at the time of default, to keep the statements as clear and Scenario 5 The accounting conventions are conservatism and full disclosure. Charter has to have th should be following the convetion of conserati