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The historical cost principle states that activities of an entity are to be kept separate and distinct from its owner. assets should be recorded at
The historical cost principle states that
activities of an entity are to be kept separate and distinct from its owner. |
| assets should be recorded at their cost. |
| only transaction data capable of being expressed in terms of money be included in the accounting records. |
| assets should be initially recorded at cost and adjusted when the fair value changes. |
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