Reggie accidentally left his books on top of his car before he left for class. The books stayed on top of his car while he was driving north on Oak Avenue. Then, when he made a sharp turn eastward onto Harris Lane, his books fell off the top of his car and onto the street. Which of the following best explains why Reggie's books fell? A. The Earth's magnetic field held the books on Reggie's car while he headed north. When he turned east, the magnetic pull faded, causing the books to fall. B. Heat energy from the sun caused Reggie's books to slide off the top of his car and fall. C. When Reggie's car turned eastward, his books continued moving northward, causing them to slide off the top of his car. D. The force of gravity caused Reggie's books to slide across the top of his car and fall.

For each of the following situations, indicate whether you agree or disagree with the financial reporting practice employed and state the basic assumption, component, or accounting principle that is applied (if you agree) or violated (if you disagree).wagner corporation adjusted the valuation of all assets and liabilities to reflect changes in the purchasing power of the dollar.spooner oil company changed its method of accounting for oil and gas exploration costs from successful efforts to full cost. no mention of the change was included in the financial statements. the change had a material effect on spooner's financial statements.cypress manufacturing company purchased machinery having a five-year life. the cost of the machinery is being expensed over the life of the machinery.rudeen corporation purchased equipment for $180,000 at a liquidation sale of a competitor. because the equipment was worth $230,000, rudeen valued the equipment in its subsequent balance sheet at $230,000.davis bicycle company received a large order for the sale of 1,000 bicycles at $100 each. the customer paid davis the entire amount of $100,000 on march 15. however, davis did not record any revenue until april 17, the date the bicycles were delivered to the customer.gigantic corporation purchased two small calculators at a cost of $32.00. the cost of the calculators was expensed even though they had a three-year estimated useful life.esquire company provides financial statements to external users every three years.