Jill Riggins owns and operates Jills Java coffee shop. She proposes to account for the shops assets
Question:
Jill Riggins owns and operates Jill’s Java coffee shop. She proposes to account for the shop’s assets at their current market value in order to have current amounts on the balance sheet. Which accounting concept or principle does Jill violate?
a. Cost principle
b. Entity concept
c. Going-concern concept
d. Reliability principle
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