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Which accounting assumption or principle is being violated if a company reports its corporate headquarter building at its fair value on the balance sheet? Monetary unit Full disclosure Historical cost Going concern

Respuesta :

henrydesanta

Answer:

The answer is Historical cost.

Explanation:

Under the historical cost concept, an asset must be represented in the financial statements at the price it was acquired. However, if a substantial change has happened to the price over time, there is a method called revaluation an that proper technique must be applied to calculate the new value.

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