question archive A hotel shows office supplies such as stationery on its balance sheet as a $500 asset, even though to any other hotel these supplies might have a value only as scrap paper
Subject:AccountingPrice: Bought3
A hotel shows office supplies such as stationery on its balance sheet as a $500 asset, even though to any other hotel these supplies might have a value only as scrap paper. Which accounting principle or concept justifies this?