Question: Fixed assets are reported in the Balance Sheet at historical cost basis. This is done in order to comply with the accounting principle of: A

Fixed assets are reported in the Balance Sheet at historical cost basis. This is done in order to comply with the accounting principle of:
A. Going concern principle
B. Conservatism principle
C. Constant money value principle
D. Realisation principle
I will downvote for sure if u answer.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

After retiring as a physician, Bob Guthrie became an avid downhill skier on the steep slopes of the Utah Rocky Mountains. As an amateur inventor, Bob was always looking for something new. With the...

Q:

Fixed assets are reported in the Balance Sheet at historical cost basis. This is done in order to comply with the accounting principle of: A . Going concern principle B . Conservatism principle C ....

Q:

Here is the link from Chegg for the case study regarding these questions....

Q:

Williams, J. R., Haka, S. F., Bettner, M. S., & Carcello. J. V. (2015). Financial & managerial accounting: The basis for business decisions (17th ed.). ISBN-13: 9780078025778 Website:...

Q:

1. Property, plant and equipment accounts should be reported on the balance sheet A. At cost plus accumulated depreciation. B. At cost minus accumulated depreciation. C. At cost minus depreciation...

Q:

I have a question on Solvency ratios based on a financial statement. Please open the attachments below. INDEPENDENT AUDITORS' REPORT TO PARLIAMENT AND THE SHAREHOLDER OF SOUTH AFRICAN AIRWAYS SOC...

Q:

I have a question on Liquidity ratios based on a financial statement. Please open the attachments below. INDEPENDENT AUDITORS' REPORT TO PARLIAMENT AND THE SHAREHOLDER OF SOUTH AFRICAN AIRWAYS SOC...

Q:

I have a question on Profitability ratios based on a financial statement. Please open the attachments below. INDEPENDENT AUDITORS' REPORT TO PARLIAMENT AND THE SHAREHOLDER OF SOUTH AFRICAN AIRWAYS...

Q:

CRefer to Colgate?s annual report in Appendix A at the end of the book and answer the following questions: a. What type of pension plan does Colgate have for a majority of its employees? What are the...

Q:

1. Has your company issued any long-term bonds or notes in the most recent year? If so, read the note related to long-term debt, identify one of the bonds or notes and list any special features...

Q:

Peyton Enterprises John Berry closed his office door, shuffled to his desk, and slumped in his chair. It was April 8, 2015, and the quarterly meeting with his company's financial planning team had...

Q:

A bat is flitting about in a cave, navigating via ultrasonic bleeps. Assume that the sound emission frequency of the bat is 39 000 Hz. During one fast swoop directly toward a flat wall surface, the...

Q:

If x is an eigenvector of A with eigenvalue = 3, show what x is also an eigenvector of A2 - 5A + 2I. What is the corresponding eigenvalue?

Q:

4.- Tasa de rendimiento de un CETE a 28 das con 10 das por vencer, considerar que su precio es de $ 9.99

Q:

What annual interest rate is implied by your answer to exercise 18.1? you calculate this by dividing $10,000 by the difference of $10,00 and the amount you are willing to pay for the expedited...

Q:

Verify that the relation, two ordered pairs (a,b) and (c,d) are equivalent if ad=bc, is an equivalence relation on the set S of all ordered pairs (a,b) of integers with b not equal to 0.

Q:

Q-1Which is more stable compound out of the following : Cyclopropenone or Cyclopentadienone? [ Hint-Draw structure of both organic (cyclic ) compounds]

Q:

Using c/c** modify a color image to remove lightness factor from an image. In order to do that, for every pixel of the image, convert that pixels color into a color model that has separate channel...

Q:

A charismatic leader would most likely exhibit which type of behavior? serve as a strong role model with high expectations for followers provide clear instructions to followers on how to complete...

Q:

3. The authors of Random Acts of Kindness tell us that the little things we do for others can have big payoffs. These acts give us an outward focus that helps us move away from selfpreoccupation....

Q:

b. Commission on sales. All employees would be given a 5 percent commission on all sales. Each salesperson would receive an hourly wage plus the commission.

Q:

Define human resource management.