COST PRINCIPLE Definition

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COST PRINCIPLE is the principle where a company is obliged to record its fixed assets at their actual purchase price or production cost.

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RIYAL is a currency of Saudi Arabia and Qatar.

INDIFFERENCE CURVE, in microeconomics, an indifference curve is a graph showing combinations of two goods to which an economic agent (such as a consumer or firm) is indifferent, that is, it has no preference for one combination over the other.

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