The ____________________ Principle Says That,with a Few Exceptions,assets Are Not

question 87

Short Answer

The ____________________ principle says that,with a few exceptions,assets are not carried at market values,but at their original cost.

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Definitions:

Corporation

A corporation is a legal entity that is separate and distinct from its owners, offering limited liability, easy transferability of shares, and potential for raising capital.

Federal Statutes

Laws enacted by the federal government of a country.

State Statutes

Laws established by a state government that prescribe or prohibit certain actions, governing the behavior of individuals and organizations within that state.

Issuing Stock

The process by which a company sells new shares to investors to raise capital, often through a public offering.