Question & Answer: how and why you would use cost principle?…..

how and why you would use cost principle?

Expert Answer



Cost principle in use as original purchase price for long term assets, short term assets, short term liabilities etc.

cost principle is beneficial for short term assets and liabilities. cost principle is not more beneficial for long term assets and liabilities..

cost principle uses because we can find out original cost any time in future for any assets and liabilities..

Still stressed from student homework?
Get quality assistance from academic writers!