Question 1 4 pts Consider the case below: At a recent meeting of top management, it was resolved that the company's method of depreciation be changed for one that will help disclose a lower profit. This is the second time that management has decided to change their policy on accounting for depreciation in their desperate attempt to avoid tax. ations Required: State the accounting concept that would most probably be applied in addressing the accounting problem that arises. Then explain how the problem should be addressed. HTML Editore BI VAAI E *111*, V GROTT: 12pt Paragraph questions/11795 Question 4 4 pts Consider the case below.State whether the italicized statement that follows is Corrector Incorrect under generally accepted accounting principles. Then, give a reason for your answer. Hudson Industries Ltd prepares and sells frozen onion puree. Last week, it sold one of its old delivery vans with net book value of GHS9,200 for GHS8,000 cash. This means that the equity of Hudson Industries Ltd has increased by GHS1,200. HTML Editore BI VAAI E II 1 XX, EE * DT 112pt Paragraph Question 5 Time Attem 24 m 4 pts Consider the case below. State whether the italicised statement that follows is Corrector Incorrect under generally accepted accounting principles. Then, give a reason for your answer. Nana-Poku Ventures is a trading concern. During the financial year ending 31 December 2016, the Enterprise earned GHS120,000 in profit. In January 2017, the Enterprise bought 1,000 units of the 10-year bonds of Joy-Angel Holdings Ltd, financing it from the profit made in the previous year. This implies that Nana-Poku Ventures has acquired an asset. HTML Editon BI YA A - IX EE11x X, DEE NV GOT TH 12pt Paragraph en softonic.com unanih