Identify the Assumption Represented in Each Scenario, and Then Decide

question 85

Essay

Identify the assumption represented in each scenario, and then decide if it is satisfied or violated.
$$\begin{array} { | l | l | l | } \hline \text { Scenario } & \text { Assumption } & \text { Satisfied or violated? } \\\hline \text { Extensive Products } & & \\\text { Corporation is a publicly } & & \\\text { traded company. They only } & & \\\text { ssue financial statements to } & & \\\text { external users every other } & & \\\text { year. } & & \\\hline \text { Creative Merchandise Inc. } & & \\\text { adds the cost of land } & & \\\text { purchased in 2014 to the } & & \\\text { balance of land purchased in } & & \\\text { 2000. } & & \\\hline \text { Gary Corp pays the CEO's } & & \\\text { mortgage and records it as } & & \\\text { miscellaneous expense. } & & \\\hline \text { Tackson \& Company } & & \\\text { depreciates property, plant, } & & \\\text { and equipment over their } & & \\\hline \text { useful lives. } & & \\\hline\end{array}$$

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Definitions:

Iron

A mineral essential for human life, involved in creating hemoglobin which carries oxygen in the blood to all parts of the body.

Vitamin Mismatch

Vitamin mismatch is not a recognized term in medical or nutritional science, hence it's considered as NO.

Rhodopsin Synthesis

The biochemical process by which rhodopsin, a light-sensitive pigment found in the photoreceptor cells of the retina, is produced.

Clotting Factors

Proteins in the blood that work together to form a blood clot, preventing excessive bleeding.