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according to the cost principle


Vishu Rajvanshi 20th Mar, 2021
Answer (1)
Ayush 20th Mar, 2021

Hello candidate,

The principal cost or the cost principle is also known as recorder cost and it is an accounting principle that requires assets, liabilities, and equity investments to be recorded on financial records at their original cost so that the change in profit or loss margins can easily be determined while maintaining the balance sheets and record tally.

Hope it was helpful!!

Good luck.

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