According to the ________, the acquired assets should be recorded at the amount actually paid rather than at the estimated market value.
A)going concern assumption
B)economic entity concept
C)cost principle
D)monetary unit assumption

Question

Quizplus · Accepted Answer

The cost principle states that assets should be recorded at the cost at which they were acquired rather than at their market value or estimated value.

According to the ________, the Acquired Assets Should Be Recorded