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The concept that states assets should be recorded at their original cost is known as the: i. Matching Principle ii. Cost Principle iii. Consistency Principle iv. Revenue Recognition Principle

The concept that states assets should be recorded at their original cost is known as the: i. Matching Principle ii. Cost Principle iii. Consistency Principle iv. Revenue Recognition Principle

Auditing: A Risk Based-Approach (MindTap Course List)
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter5: Professional Auditing Standards And The Audit Opinion Formulation Process
Section: Chapter Questions
Problem 17CYBK
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The concept that states assets should be recorded at their original cost is known as the: i. Matching Principle ii. Cost Principle iii. Consistency Principle iv. Revenue Recognition Principle
Transcribed Image Text:The concept that states assets should be recorded at their original cost is known as the: i. Matching Principle ii. Cost Principle iii. Consistency Principle iv. Revenue Recognition Principle
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