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

Question

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The cost principle requires that all goods and services purchased be recorded at cost, which is the amount paid or the fair market value at the time of acquisition. This principle emphasizes the objective and verifiable nature of accounting information. The going concern principle focuses on the assumption that a business will continue to operate in the near future, the monetary unit principle requires that financial transactions be recorded in a single unit of currency, the business entity principle emphasizes the distinction between the business and its owners, and the revenue recognition principle requires that revenue be recognized when it is earned, regardless of when payment is received.

Which of the Following Accounting Principles Would Require That All