(a) The following situations arose in the preparation of the financial statements of Adaeze Enterprises for the year ended 31 December 2023: (i) The owner, Mr. Adaeze, included his personal car maintenance expenses of N120,000 in the business profit and loss account. (ii) The business purchased a motor vehicle for N2,500,000. The accountant decided to charge the entire cost as an expense in the income statement instead of capitalising it. (iii) The business changed its method of valuing inventory from FIFO to weighted average cost without any disclosure in the financial statements. (iv) A debtor who owes the business N180,000 has been declared bankrupt, but the accountant refused to make any provision, arguing that the debt might still be recovered. (v) The business signed a contract worth N5,000,000 in December 2023, but delivery of goods and invoicing will only take place in March 2024. The accountant recorded the revenue in December 2023. For EACH of situations (i) to (v) above: - Identify the accounting concept or convention that has been violated. - Explain why it has been violated. (10 marks) (b) Distinguish between the 'Materiality Convention' and the 'Substance over Form Convention', and give ONE example of each. (6 marks) (c) State ONE reason why accounting concepts and conventions are important to the users of financial statements. (2 marks)