When Assets Are Recorded at Original Value,they Are Recorded Under

question 34

Multiple Choice

When assets are recorded at original value,they are recorded under the

• A) historical cost principle.
• B) original principle.
• C) current principle.
• D) value principle.

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Definitions:

Target Profits

The specific amount of net income a company aims to achieve within a certain time frame.

Variable Expenses

Costs that vary in direct proportion to changes in the level of activity or production volume.

Fixed Expenses

Costs that do not change in total over a wide range of activity levels or over a short period, such as rent or salaries.