The historical cost principle requires that assets be reported at their: a) Market value b) Replacement cost c) Fair value d) Original cost

Intermediate Accounting: Reporting And Analysis
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ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
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Problem 11GI
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General Accounting

The historical cost principle requires
that assets be reported at their:
a) Market value
b) Replacement cost
c) Fair value
d) Original cost
Transcribed Image Text:The historical cost principle requires that assets be reported at their: a) Market value b) Replacement cost c) Fair value d) Original cost
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