A business purchases a building for $250,000.The current market value is $375,000.The tax assessment value is $325,000.At what value should the building be recorded,and which accounting principle supports your answer?

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The Answer of A business purchases a building for $250,000.The current market value is $375,000.The tax assessment value is $325,000.At what value should the building be recorded,and which accounting principle supports your answer?

A Business Purchases a Building for $250,000