[Solved] How many galaxies are there in the observable universe? A) roughly (within a factor of 10) the same as the number of stars in our galaxy B) roughly a thousand times more than the number of stars in our galaxy C) about as many as the number of stars we see in the sky with our naked eyes D) about as many as the number of grains of sand on all the beaches on Earth E) infinity Measurement Principle: A financial accounting principle that determines the specific basis (historical cost or fair value) on which assets and liabilities are recorded in the financial statements. Actual Cost: The incurred cost that reflects the real financial expenditure on a project, purchase, or activity. Accounting Equation: The fundamental equation of double-entry bookkeeping, represented as Assets = Liabilities + Equity. Liabilities: Obligations owed by a business to either creditors or suppliers, often in the form of loans or accounts payable.