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Which concept should be applied when reporting a piece of land that was bought for $50,000 five years ago, and which would probably now sell
Which concept should be applied when reporting a piece of land that was bought for $50,000 five years ago, and which would probably now sell for $80,000?
Multiple Choice
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The duality of effects.
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The separate entity concept.
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The asset principle.
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The cost principle.
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