The ____________________ Principle Says That Assets of a Company Are

question 173

Short Answer

The ____________________ principle says that assets of a company are initially recorded at their original cost.

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Definitions:

Operational Plans

Detailed, short-term action plans that outline how strategic goals will be achieved by an organization, specifying resources needed and processes to follow.

Specialization

The process of concentrating on and becoming expert in a particular subject or skill, often leading to increased efficiency.

Single-use Plans

Specific actions or strategies devised for a particular purpose or project, not intended for repeated or continuous use.

Budgets

Financial plans that outline expected income and expenditure over a specific time period, used by individuals, businesses, and governments to guide economic decision-making.