The accounting principle that goods and services purchased should be recorded at their historical cost and not at their current market value.
Use 'cost principle' in a Sentence
The cost principle was something important to pay attention to, but I would not put too much thought into it.
You need to know what the cost principle of a product is so that you can fully know how to do things to maximize the profit.
The cost principle has been useful if for no other reason than consistency to ensure maximum meaningfulness and usefulness of our data.
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