The Principle Stating That Assets Acquired by the Business Should

question 119

Multiple Choice

The principle stating that assets acquired by the business should be recorded at their actual cost on the date of purchase is the:

• A)historical cost principle.
• B)objectivity principle.
• C)reliability principle.
• D)stable dollar principle.

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Definitions:

Central Canal

A fluid-filled channel in the center of the spinal cord.

Lamella

Thin layers or plates, such as those found in bone, making up the concentric rings in the structure of compact bone.

Canaliculus

Small, channel-like structures in bone and dental tissue, facilitating nutrients and waste exchange between blood vessels and osteocytes.

Lacuna

A small cavity or space within tissue, especially in bone or cartilage, where cells reside.