A cоmpаny hаs а factоry building that оriginally cost the company $250,000. The current fair value of the factory building is $3 million. The president would like to report the difference as a gain. The write-up would represent a violation of which accounting assumption or principle?
Pаrt II (60%) In 2005, Andrew аnd Brendа began living tоgether in Maine while bоth were attending cоllege there. Andrew proposed to Brenda, but she refused. After learning that she was pregnant, however, Brenda told Andrew that she wanted to marry him before the baby was born. Andrew was thrilled and told her that they were already married “in the eyes of God.” Brenda agreed that they were. Andrew and Brenda did not obtain a marriage license or have a formal wedding. Nonetheless, Brenda started using Andrew’s last name even before their daughter, Chloe, was born. After Andrew graduated from college and started a new job, he listed Brenda as his spouse so that she could qualify for benefits through Andrew’s employer. They also filed joint income tax returns. Andrew and Brenda separated in 2008 because of a baseline incompatibility. Andrew stayed in Maine, and Brenda moved to Texas for a new start. There, she met Daniel, and quickly fell in love. Chloe, around two years old, got to know Daniel and quickly developed more of a bond with him than she ever had with Andrew. Andrew grew bitter when he saw that during one of his visits, and stopped coming around. In 2010, Brenda and Daniel obtained a Texas marriage license and wed. Thereafter, Daniel formed a close and loving bond with Chloe. Indeed, with only very infrequent contact from Andrew, Chloe, now five years old, regarded Daniel as her father and called him “Dad.” In January 2020, Brenda informed Daniel that she wanted a divorce and that she wanted to launch a new life with Chloe in a distant state that she would not disclose to Daniel and break off all contact with him. When Chloe, now a fifteen year old, learned about this, she became very upset because she continues to regard Daniel as her father. Maine recognizes common law marriage. Texas formerly allowed common law marriage until a statute, enacted in 2001, prospectively barred the creation of new common law marriages within the state. 1. On what basis, if any, could Andrew and Brenda be considered married? Explain. (40%) 2. If Brenda cuts off all contact between Chloe and Daniel, can Daniel obtain court-ordered visitation with Chloe? Explain. (20%)
A mаrried wоmаn hаs an affair with a man withоut her husband ever finding оut. For a period of time, she has consensual sex with both of them. She becomes pregnant and genuinely does not know who the father is, and she never tries to find out, even after her child, Elle, is born. She passes away in a tragic accident when Elle is 15. Elle and her father--the widower spouse, Bill--are still in grief when a strange man comes knocking on a door on Elle's 16th birthday saying he's her father, and couldn't hold it in any more now that the love of his life had passed. He wanted to establish a relationship with her. Elle thinks he's joking, but he produces paperwork showing a genetic test that he and Elle's mom took when Elle was only 6 months old. He says that Elle's Mom never wanted to know the truth, but he has known all along. Bill says that if he thinks he's going to take Elle away from him, he had another think coming. The man sues for filiation in family court. Bill enters as a respondent and says he is Elle's father. Which option below is not part of the reasoning that a court (accepting our common law doctrine as precedent) would most likely employ as reaching the outcome?