The cost principle relates most closely to the
A)recognition point.
B)recognition issue.
C)valuation issue.
D)classification issue.

Question

Quizplus · Accepted Answer

The cost principle is a valuation principle that requires assets to be recorded at their original cost, which is related to the valuation issue. This principle requires that the cost of an asset be recorded on the balance sheet, and any increase or decrease in value should be recorded as a gain or loss on the income statement, rather than adjusting the asset's value on the balance sheet.

The Cost Principle Relates Most Closely to the