1. What is the Cost Principle?and Definition of Cost
Principle
2. give 3 example of Cost Principle
3....
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Accounting
1. What is the Cost Principle?and Definition of CostPrinciple
2. give 3 example of Cost Principle
3. Some Issues with the Cost Principle
4. Short-Term vs Long-Term Assets
Answer & Explanation
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1 Cost Principle Cost principle requires to record the assets and liabilities on the balance sheet of the company at the cost at which it is acquired or borrowed It is also known as historical cost principle Definition of Cost Principle Cost principle requires to record the assets at the cash or cash equivalent amount at which it is acquired at the time of
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