QUESTION 16 The Bemhardt Company has assets for which they paid $50 million. The current market value of the assets is $75 million. The assets will be recorded in the accounting books at $75 million $25 million $50 million $125 million STI Duelo completion Haha 14 15 16 17 18 QUESTION 17 The historical cost principle states that O assets should be initially recorded at cost and adjusted when their market values change. activities of an entity are to be kept separate and distinct from its owner. assets should be recorded at the price paid for them. only transactions that are capable of being expressed in terms of money should be included in the accounting records QUESTION 18 If accounts receivable is credited, it means cash has not been collected for the services given to the customer. O cash has been collected for the services that were earlier given on account. O cash has been received for services to be given in the future. O none of the above because accounts receivable increase with debit