The cost-benefit test constraint refers to:

A) the recording of assets at their historical cost rather than their fair market value.
B) the requirement that all benefit transactions must conform to "industry practice."
C) the benefit of complying with an accounting principle should outweigh the cost of compliance.
D) the idea that "when in doubt, take the most beneficial action."

Question

11-06-2024
Business

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The cost-benefit test constraint refers to:

A) the recording of assets at their historical cost rather than their fair market value.
B) the requirement that all benefit transactions must conform to "industry practice."
C) the benefit of complying with an accounting principle should outweigh the cost of compliance.
D) the idea that "when in doubt, take the most beneficial action."

Sagot :

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