I think this answer is wrong please clarify why it is right or wrong with explanation.

Correct Marks for this submission: 10.00/10.00. Question 12 Correct Mark 10.00 out of 10.00 Question text Which of the following is true about the cost principle? Select one: C a. It limits the economic data recorded in an accounting system to data related to the activities of that company. C b. It reports the revenues earned by a company for a period with the expenses incurred in generating the revenues. C. It initially records assets in the accounting records at their purchase price. d. It assumes that a company will continue in business indefinitely. Feedback Correct Marks for this submission: 10.00/10.00