ACQUISITION PRICE PRINCIPLE Definition

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ACQUISITION PRICE PRINCIPLE see COST PRINCIPLE.

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BUSINESS ENTITY PRINCIPLE is where the business is seen as an entity separate from its owner(s) that keeps and presents financial records and prepares the final accounts and financial statements. The accounting is kept for each entity as a whole (groups of companies must present consolidated accounts and consolidated financial statements).

STOCK is a. a certificate documenting the shareholders ownership in a corporation; or, b. the merchandise that an entity has on hand or in inventory.

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