Identify the underlying accounting principle that guides the measurement of the acquisition cost of...

Question

Identify the underlying accounting principle that guides the measurement of the
acquisition cost of inventories, equipment, buildings, and other similar assets. What is
the rationale for this accounting principle?
The underlying principle behind measurement of the acquisition cost is historical cost
principle. ...

David · Accepted Answer

Identify the underlying accounting principle that guides the measurement of the 
acquisition cost of inventories, equipment, buildings, and other similar assets. What is 
the rationale for this accounting principle? 
The underlying principle behind measurement of the acquisition cost is historical cost 
principle.

Identify the underlying accounting principle that guides the measurement of the acquisition cost of inventories, equipment, buildings, and other similar assets. What is the rationale for this...

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