Historical cost principle in accounting

What is meant by profit volume ratio?
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Historical cost principle: According to this principle an asset of a business must be recorded in the accounting records at the price paid to acquire them at the time of its acquisition, i.e. original cost.

Author: amidu edson

I am certified accountant with more than 5 years of teaching experience. Currently am teaching auditing and assurance, management accounting and financial accounting for student preparing for professional exams such as ACCA and CPA.

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