Lorna Smith decided to start her own CPA practice as a professional corporation, Smith CPA PC. Her
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Lorna Smith decided to start her own CPA practice as a professional corporation, Smith CPA PC. Her corp purchased an office building for 35,000 that her real estate agent said was worth 50,000 in current market. The corp recorded it as 50,000 asset building. What concept or principle of accounting is being violated?
Related Book For
Financial Accounting A User Perspective
ISBN: 978-0470676608
6th Canadian Edition
Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry
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