When assets are recorded at original value,they are recorded under the
A) historical cost principle.
B) original principle.
C) current principle.
D) value principle.

Question

Quizplus · Accepted Answer

Assets are recorded at their historical cost, which is the original value paid for them at the time of acquisition. This is consistent with the historical cost principle in accounting, which requires that assets be recorded at their original cost rather than at their current market value or some other value.

When Assets Are Recorded at Original Value,they Are Recorded Under