GoldenToad8758 GoldenToad8758

06-02-2024
Business

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A company purchased a building twenty years ago for $150,000. the building currently has an appraised market value of $235,000. the company reports the building on its balance sheet at $235,000. what concept or principle has been violated?
a. monetary measurement concept
b. recognition principle
c. separate entity concept
d. cost principle

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