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Unformatted text preview: the buildings at market value in its reports. 2. Jones Company includes in its accounting records only transaction data that can be expressed in terms of money. 3. Caleb Borke, owner of Caleb's Cantina, records his personal living costs as expenses of the Cantina. Method Principle/Assumption 1. Incorrect Cost principle 2. Correct Monetary unit assumption 3. Incorrect Economic entity assumption...
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This note was uploaded on 07/31/2011 for the course ACCT 557 taught by Professor Kahn during the Spring '10 term at Strayer.
- Spring '10
- Financial Accounting