Identify which of the conceptual framework elements have been violated by the following events. Some questions have

Question:

Identify which of the conceptual framework elements have been violated by the following events. Some questions have more than one acceptable answer.
1. The company's building has increased in value since it was purchased 10 years ago.
Since the owner intends to sell the building next year, he recorded the building at market value on the The notes to the were omitted.
3. The company's listed the owner's personal vehicle as an asset.
4. The accountant recorded the office staplers as assets on the The accountant is planning to alternate use of ASPE and IFRS in preparing the The owner listed his employees as an asset entitled "Intellectual Property" on the Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...