Which of the Following Accounting Principles Would Prescribe That All

question 40

Multiple Choice

Which of the following accounting principles would prescribe that all goods and services purchased is recorded at cost?

• A)Going-concern principle
• B)Continuing-concern principle
• C)Cost principle
• D)Business entity principle
• E)Consideration principle

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Definitions:

Belief System

A set of principles or tenets which together form the basis of a religion, ideology, or personal stance.

Ideological Argument

An argument that is primarily based on a set of beliefs or ideologies rather than empirical evidence or logical reasoning.

Premises

Statements or propositions from which a conclusion is drawn in logical reasoning.

Core Values

Fundamental beliefs or guiding principles that dictate behavior and action for individuals or organizations.