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12 June, 22:19

Chad Jones is the sole owner and manager of Jones Glass Repair Shop. Jones purchased a truck, be used in the business, for its market value of $35,000. Which of the following fundamentals requires Jones to record the truck at the price paid to buy it? Separate-entity assumption. Revenue principle. Stable monetary unit assumption. Historical cost principle. Which of the following transactions will not decrease the net profit margin ration?

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  1. 13 June, 01:45
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    Which of the following fundamentals requires Jones to record the truck at the price paid to buy it?

    Historical cost principle: states that assets, liabilities and equity investments must be recorded at their original purchase price.

    Which of the following transactions will not decrease the net profit margin ration?

    using cash to pay for previously accrued salaries.

    All the other transaction increase expenses which results in a lower net profit margin ratio.
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