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What is an example of the cost principle applied

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Question - What is an example of the cost principle applied?

1-A building that cost $800,000 has appreciated $50,000, but it is still recorded at $800,000.

2-A building was purchased for $500,000. As it appreciates, the value on the books is increased.

3-A tract of land was appraised at $400,000 and was purchased for $450,000. It is recorded at $450,000.

4-A company received a $50,000 discount on a $500,000 piece of equipment. The equipment was recorded at $500,000.

Reference no: EM133179501

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