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HISTORICAL COST: An accounting principle stating that expenses are recorded in terms of original or acquisition cost. Such a practice does not necessarily indicate the opportunity cost or current market value.

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PRICE

An asset or item voluntarily exchanged in a market transaction for another asset or item. This item or asset is usually, but not necessarily, money. A barter transaction occurs if money is NOT one of the assets or items exchanged. In a standard market diagram, price is displayed on the vertical axis.

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Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway hoping to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for a thesaurus filled with typos.
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
"Success doesn't come to you . . . you go to it "

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