Under the Cost Principle

question 118

Multiple Choice

Under the cost principle:

• A)only reasonable and necessary costs of acquiring an asset should be recorded as a cost of the asset.
• B)costs of preparing an asset for use should never be recorded as part of the cost of the asset.
• C)all reasonable and necessary costs of acquiring an asset and preparing it for use should be recorded as a cost of the asset.
• D)only the actual purchase price of the asset is recorded as the cost of the asset.

---

Definitions:

Effective Branding

The process of creating a distinctive and durable perception in the minds of consumers, differentiating a product or service from its competitors.

Tangible Aspects

The physical or material characteristics of something, easily perceived by the senses.

Employer Branding

The process of promoting a company as the employer of choice to a desired target group, one which a company needs and wants to recruit and retain.

Products And Services

Goods sold and tasks performed by a business to satisfy the needs and wants of customers.