Determine which accounting assumption or principle

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Reference no: EM133326517

Question 1: Fatu Limited buys its merchandise by the lorry and trans-load. Fatu Limited expenses the transportation costs in the period incurred. Such transportation costs although varying from period to period, are always material in amount.

Question 2: determine which accounting assumption or principle (s) if any, have been violated and explain the nature of the violation and for each violation indicate the correct treatment. If you believe the treatment is proper defend your position. Note: More than one violation may have occurred but list for each situation only the most applicable main violation.

Reference no: EM133326517

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