can i get some help please

1. You are required to identify and explain the accounting concept or principle that would guide you in your answer to each of the following situations. a. A case of food poisoning occurred in your restaurant. The firm is being sued by several clients who were affected. The anticipated cost from this lawsuit is not yet ascertained although a judgement against the firm seems certain and will significantly erode the firm's liquidity and financial position in the short run. b. The firm traditionally depreciated its fixed assets using the straight-line method. However, this year the firm is considering a change to the reducing balance method as it would allow for the reporting of a greater net income. What is your initial response to this situation? Is there any justification to support this move? c. The company has two motor vehicles which were acquired on hire purchase. These assets have not yet fully been paid for and the supplier still has a lien on them. However, the vehicles are in use in the business. Should these motor vehicles be shown among the assets? Additionally, define the term asset. c. The company has two motor vehicles which were acquired on hire purchase. These assets have not yet fully been paid for and the supplier still has a lien on them. However, the vehicles are in use in the business. Should these motor vehicles be shown among the assets? Additionally, define the term asset. d. The production manager is upset about the fact that his work is being interrupted so often as he is being asked to provide updates on work in progress. He argues that most jobs are being done on long term contracts and the production department usually submits a completion report at the end of each job. Does the manager have a valid point? e. Two boxes of paper were in stores at the end of the year of a very large marketing firm. They were omitted from the financial statements. As the accounting manager you are now wondering what you should do with the financial statements. f. During the year, an entity was contracted as advertising agent for a local university. The commission revenue earned was 6% of the $200,000 transacted. However, at year end only one half of this income was received. How much should be included as commission under the revenue for the year