MCQs>Finance & Management>Bookkeeping>Which principle/guideline requires a company's balance sheet to report its land at the amount the company paid to acquire the land, even if the land could be sold today at a significantly higher amount?
Bookkeeping MCQs
Which principle/guideline requires a company's balance sheet to report its land at the amount the company paid to acquire the land, even if the land could be sold today at a significantly higher amount?
Answer
Correct Answer: Cost Principle
Explanation:
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