Question: When a new company was formed, one partner contributed some used equipment he owned. The equipment was appraised at $ 4 4 , 0 0

When a new company was formed, one partner contributed some used equipment he owned. The equipment was appraised at $44,000 and $50,000 by two different dealers. The accountant entered the equipment at $44,000 in the financial records of the partnership. This is an example of
Multiple Choice
the materiality constraint.
the conservatism constraint.
the matching principle.
industry practice constraint.

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