Which of the following qualities does the cost principle primarily support?
A) Predictive value
B) Conservatism
C) Verifiability
D) Timeliness

Name: Which of the following qualities does the cost principle primarily support? A) Predictive value B) Conservatism C) Verifiability D) Timeliness
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The cost principle supports verifiability because it involves recording the acquisition cost of an asset, which is a factual and objective figure, thus making it easier to verify.

Which of the Following Qualities Does the Cost Principle Primarily