IDENTIFICATION: WRITE THE VIOLATED PRINCIPLE, CONCEPT OR ASSUMPTION IN EACH OF THE FOLLOWING CASES 1 2 3 + 5 6 7 0 9 10 Charges the cost of a new OE to expense in the year of purchase Change from WAVE to FIFO when accounting for inventory Reporting in the currency of hyperinflationary economy prepared FS Records sales after inventory has been produced but before it is sold Decides to publish FS only in years when it has good news to report Reports Inventory, PPE & Intangibles at current cost at the end of period Reporting a personal owned swimming pool as an asset in the BS Listing a liability of P 150 among the liabilities in the BS Not reporting major details about its shareholder's equity Recording an item as an asset, when in doubt whether It is an asset or expense of the current period