Question: Identify the financial statement qualitative characteristic or foundation that has been violated in each of the following scenarios. table [ [ Scenario , Description

Identify the financial statement qualitative characteristic or foundation that has been violated in each of the following scenarios.
\table[[Scenario,Description],[a),\table[[Bill Co. purchased a two-year insurance policy and expensed the entire],[amount in the period of purchase.]],],[b),\table[[Charlie Co. listed inventory at its market value of $31,000 on the balance],[sheet, even though it was purchased for $20,000.]],],[c),\table[[Percy Co. did not include the details of its property, plant, and],[equipment, even though this information is relevant to users.]],],[d),\table[[Fred. Co made a sale on the last day of the accounting period. The],[customer paid for the item in the following month, so this sale was],[included in the next period's financial statements.]],],[,\table[[George Co. has plans to restructure its operations next year and will sell],[off about half of the business. This information was not included in the],[notes to the financial statements because it does not affect the current],[financial information.]],],[,\table[[Ron Co. applied a certain accounting policy which allowed the company],[to report higher assets and net income. A different accounting policy],[was available which would have resulted in a lower balance of assets],[and net income.]],],[g),\table[[Ginny Co. changed the accounting policy used to value property, plant,],[and equipment after using a different policy for 10 years. There was no],[justification for the change.]],]]
Identify the financial statement qualitative

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