"identify each of the principles underlying aicpa auditing standards in the first column by selecting the letters corresponding to each of the principles (from the list of possible principles given below). use the second column to identify by roman numeral (from the list of failures given below) how the action(s) of holmes resulted in a failure to comply with each standard you selected in the first column"

Brian has just finished college. he wants to set up a small business to make and sell fireworks. he registers his company and acquires a license from the government. he finds that most of his competitors are selling fireworks at an extremely low price. he would like to make more money, so he decides to innovate and develop better fireworks. he sells his fireworks at a higher price, and they are a huge hit with the customers. after a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. he even starts exporting fireworks overseas. which type of economy does this scenario describe?