( Allocated Mark ( 5 Question One Because the companv's income is low this vear, a switch from accelerated depreciation to .1 straight-line depreciation is made this year The president of Ramirez Corp. believes it is foolish to report financial information on a yearly basis. Instead. the president believes that financial information should be disclosed .only when significant new information is available related to the company's operations Ramirez Corp. decides to establish a large loss and related liabilitv this vear because of the possibility that it may lose a pending patent infringement lawsuit. The possibilitv of loss is .considered remote by its attorneys An officer of Ramirez Corp. purchased a new home computer for personal use with company .money, charging miscellaneous expense _Ql- Presented below are a number of accounting procedures and practices in Ramirez Corp. For each of these items, list the assumption, principle, qualitative characteristic. or constraint that is .Violated. Explain each answer .2