The Accounting Convention That Requires Items in the Balance Sheet

question 29

Multiple Choice

The accounting convention that requires items in the balance sheet to be valued at their acquisition cost is the:

• A) money measurement convention.
• B) realisation convention.
• C) historical cost convention.
• D) matching convention.

---

Definitions:

Appreciation Expressed

Recognition or expression of gratitude toward someone or something, often shown for contributions or achievements.

Annual Milestones

Significant goals or benchmarks that are aimed to be achieved within a one-year period.

Quarterly Milestones

Specific, significant achievements in a project planned to be reached every three months.

Tangible Rewards

Physical or material rewards given as recognition for an individual's accomplishments or desirable behavior.