Dirt Company purchased land for $5 million dollars in 2008. At December 31, 2020 the land had a market value of $15 million. On the December 31, 2020 balance sheet Dirt valued the land at $15 million....

  Dirt Company purchased land for $5 million dollars in 2008.  At December 31, 2020 the land had a market value of $15 million.  On the December 31, 2020 balance sheet Dirt valued the land at $15 million.  Which of the following GAAP concepts did Dirt violate?

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