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what is the definition of historical cost

Q: What is the definition of Historical Cost?

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what is the definition of historical cost

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Historical cost is the cost of an item when it was originally acquired. Historical cost does not reflect the change of value over time that an asset undergoes.

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strength of historical cost accounting

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I believe historical cost is the original cost @ time of buying. Replacement cost is the price it would cost you @ present day values

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Historical cost model is a valuation process for assets wherein they are valued at cost of acquisition plus all costs incidental to cost of acquisition.

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