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Financial Reporting MCQs

The cost principle is:

when a company will record its revenue

when a company must disclose all pertininant information in regards to the financial statement which would affect an investors decision

that a company must declare its expenses and revenues together in the same period

when the cost of something matches the accounting information on the balance sheet

Answer

Correct Answer: when the cost of something matches the accounting information on the balance sheet

Explanation:

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