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Veterinary Practice Manager

Category - CVPM

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If a veterinary hospital purchases a new ultrasound machine for $40,000and the machine is only worth $20,000, what is the cost principle recorded in the general ledger as?

$20,000
$10,000
$40,000
$30,000

Explanation

Answer: C- If a veterinary hospital purchases a new ultrasound machine for $40,000; the cost principle is recorded in the general ledger as $40,000, even if it is only worth $20,000. The cost principle is a monetary record written in terms of cost.

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