Question: In June 2019 ACDC Pty Ltd were advised that its major customer would no longer be purchasing it's product as it had become obsolete. There

  1. In June 2019 ACDC Pty Ltd were advised that its major customer would no longer be purchasing it's product as it had become obsolete. There is no alternate market for the product so it is unlikely that ACDC Pty Ltd will be able to continue to operate. ACDC Pty Ltd have not adjusted the value of their assets at 30 June 2019. Which accounting principle has been violated?

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