Recently,two friends in Australia combined their monetary resources and formed a business.Regardless of the form of the business,at the time of the purchase via cash,an asset is recorded in the...

Recently,two friends in Australia combined their monetary resources and formed a business.Regardless of the form of the business,at the time of the purchase via cash,an asset is recorded in the accounting records by both increasing the account for the asset purchased and decreasing the account for cash by the same amount because of the:

A.Asset Recognition Principle

B.Historical Cost Principle

C.Dual effect of transactions

D.Entity Concept

E.Monetary Unit Concept