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QUESTION 1 3 What is the significance of the historical principle in accounting? It ensures that all financial transactions are recorded in a timely and
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What is the significance of the historical principle in accounting?
It ensures that all financial transactions are recorded in a timely and accurate manner.
It requires companies to disclose all material information that could impact financial statements.
It states that assets and liabilities should be recorded at their original cost when acquired.
It allows companies to use estimates and projections for future events and transactions.
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Accounting Information Systems
Authors: Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
11th edition
1337552127, 978-1305971424, 1305971426, 978-0357688694, 978-1337673174, 133767317X, 978-1337552127
