When net assets are recorded at their historical cost and changes in net assets are not recorded unless an event, transaction, or circumstance occurs, the
A)financial capital maintenance approach is being used
B)transactional approach is being used
C)physical capital maintenance approach is being used
D)comprehensive income approach is being used

Question

Quizplus · Accepted Answer

The transactional approach records changes in net assets only when specific events, transactions, or circumstances occur, aligning with the description given.

When Net Assets Are Recorded at Their Historical Cost and Changes