In Accounting,the Principle That Requires That Assets,services,and Liabilities Be Recorded

question 122

Short Answer

In accounting,the principle that requires that assets,services,and liabilities be recorded initially at the cash or cash-equivalent value of what was given up or of the item received is called ______________________________.

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Definitions:

University

An institution of higher education and research, which awards academic degrees in various disciplines.

Strain Theory

A sociological theory positing that societal pressures may push individuals toward deviance or crime when they are unable to achieve culturally approved goals by legitimate means.

Cultural Ideals

Shared beliefs or values within a society that represent the aspirational norms of conduct, defining what is considered desirable or worthy.

Social Reality

refers to the sum of social facts, relationships, and institutions that society agrees upon and constructs collectively.