(accounting question) State clearly which accounting conventions, assumptions or principles are followed
or violated in each of the following cases. State also the correct procedures to be
followed in each case:
a) Moon Ltd. wishes to decrease the rate of depreciation from 20% to 10%, in view
of the inadequate profit in the current year.
b) Transactions are recorded from the viewpoint of the businessman
c) Accounting transactions are recorded in the books of account without any
supporting documents or evidences.
d) Anticipating profits and spending immediately without providing for any possible
losses.