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ABC Company owns land that cost $25,000. If a quick sale of the land was necessary the generate cash, the company feels it would receive

ABC Company owns land that cost $25,000. If a quick sale of the land was necessary the generate cash, the company feels it would receive only $20,000. The company continues to report the asset on the balance sheet at $25,000. Which of the following concept justifies this?

A.

Fair value principle
B.

Cost principle
C.

Monetary unit assumption
D.

Economic entity assumption

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