Question
In March 2021, AC Ltd. purchased a batch of commodities. The vendors invoice showed that the payment to the vendor was 15,000. The transportation cost
In March 2021, AC Ltd. purchased a batch of commodities. The vendors invoice showed that the payment to the vendor was 15,000. The transportation cost for such commodities was 1,000. ACs accountant made an accounting entry for importing such commodities in store of 16,000.
Required: Specify which accounting principle is used by AC accountant in such accounting work?
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Strategic Management Theory And Cases An Integrated Approach
Authors: Charles W. L. Hill, Melissa A. Schilling, Gareth R. Jones
13th Edition
0357033841, 978-0357033845
