Question
Take Test: Unit 2 CA: Financial Statements, Tax, and Value &... The cost principle states that an asset should be recognized on the balance sheet
The cost principle states that an asset should be recognized on the balance sheet ____. (CSLO 2)
| at the market value of the asset. | |
| at the market value less the accumulated depreciation on the asset. | |
| at its historical cost. | |
| at its historical cost plus the accumulated depreciation on the asset. |
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Financial Accounting An International Introduction
Authors: David Alexander, Christopher Nobes
3rd Edition
273709268, 273709267, 978-0273709268
