Beginning inventory plus the cost of goods purchased equals O a. Cost of goods sold O b. Cost of goods available for sale O . Net purchases O d. Total goods purchased The accounting principle that requires assets to be recorded at acquisition cost is called: O a. Historical cost O b. Going-Concern O. Full disclosure O d. Matching

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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This multible choice question from ACCOUNTING PRINCIPLES I.
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34
Beginning inventory plus the cost of goods purchased equals
O a. Cost of goods sold
O b. Cost of goods available for sale
O c. Net purchases
O d. Total goods purchased
38
The accounting principle that requires assets to be recorded at acquisition cost is called:
O a. Historical cost
O b. Going-Concern
O c. Full disclosure
O d. Matching
Transcribed Image Text:34 Beginning inventory plus the cost of goods purchased equals O a. Cost of goods sold O b. Cost of goods available for sale O c. Net purchases O d. Total goods purchased 38 The accounting principle that requires assets to be recorded at acquisition cost is called: O a. Historical cost O b. Going-Concern O c. Full disclosure O d. Matching
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