Also known as the historical cost principle, ________ states that everything the company owns or controls (assets)
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Also known as the historical cost principle, ________ states that everything the company owns or controls (assets) must be recorded at their value at the date of acquisition.
A. Revenue recognition principle
B. Expense recognition (matching) principle
C. Cost principle
D. Full disclosure principle
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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