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what is the definition of historical cost
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.
strength of historical cost accounting
Calculate cost of debt for what??????
I believe historical cost is the original cost @ time of buying. Replacement cost is the price it would cost you @ present day values
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.
Historical cost and fair value are opposite effects. Historical cost, also known as historical value, is what an item is worth due to its age. Fair value is what the actual value of said item is.
HIstorical cost based depreciation tends to increase profits when there is inflation
opportunity cost historical cost
The different types of costs:opportunity costaccounting cost or historical coststransaction costsunk costmarginal cost
Variable cost = Total Cost/ fixed cost