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Please answer this, ASAP!!
Under which accounting concept asset is recorded as cost even if the market price is more or less.
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Definition of Cost Principle The cost principle is one of the basic underlying ... The cost principle requires that assets be recorded at the cash amount (or the ... (An exception is the change in market value of a short-term investment in the ... If the same asset was purchased for a down payment of $20,000 and a
the price is less
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