Assets are recorded at their original purchase price according to the?

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What is the journal entry to record the purchase of Packaging Materials?
Posted by:
Losame Nosa
16-July-2019

A) Materiality Priciple

B) Historical Cost Priciple

C) Cost Benefit Principle

D) Consistency Principle

MBA Finance Accounting Purchase Management Fixed Assets Finance

Question added by RASHID K V , Accountant , Catco Aerospace FZE
Date Posted: 2015/05/26

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1 Answers

by WILSON DEPALAC , assistant manager accounts , falcon pack industry llc

the answer is historical cost principle.

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