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QUESTION 3 Land is reforted on the balance sheet at its original purchase price. From the list of assumptions and principles, which one best supports
QUESTION
Land is reforted on the balance sheet at its original purchase price.
From the list of assumptions and principles, which one best supports this accounting treatment?
A Expense Recognition Principle
B Materiality
C Historical Cost Principle
D Monetary Unit Assumption
E Revenue Recognition Principle
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Accounting, The Financial Chapters
Authors: Tracie Miller Nobles
12th Edition
013449041X, 9780134490410
