For each of following situations, state whether you agree or disagree with the financial reporting practice employed, and briefly explain the reason for your answer.
1. the controller of the dumars corporation increased the carrying value of land from its original cost of 22 million to its recentry appraised value of $3.5 million.
2. The presdent of vosburgh industries asked the company controller to charge miscellaneous expense for thepurchase of an automobile to be used solely for peronal use.