Question $4(0\mathrm{.}5$ points$)$

SLO $1$: ABAC Farms acquired a building for $$500,000.$ The building was appraised at

a value of $$575,000.$ The seller had paid $$300,000$ for the building $6$ years ago.

Which accounting principle would require Superior to record the building on its

records at $$500,000?$

Monetary unit assumption.

Going$-$concern assumption.

Measurement $($Cost$)$ principle.

Business entity assumption.

Revenue recognition principle.