0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is cost principle?
Accounting concept that goods and services purchased should be recorded at their historical cost and not at their current market value.
What is historical concept?
historical concept means tangible assets are record on the the original price, in which an assets is acquired.
What are the different cost concept?
different cost concept
Is there a type of lawyer that has to deal with literature and historical issues?
Attorneys who handle issues such as copyright issues are Intellectual Property litigators. Sorry, but it is not clear on what is meant by historical issues.
What is the definition of Historical Cost?
what is the definition of historical cost
What is 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.
Advantages of historical cost accounting?
strength of historical cost accounting
Elaborate the cost concept is important for decision making?
Cost concept for Decision making ?
What are some historical issues about the Amazon River?
To get to the point, some historical issues the Amazon River hes been going through include
Will a business have an indefinite life unless it is likely to be sold or liquidated in the near future according to cost concept?
No, the cost concept does not dictate the lifespan of a business. Instead, it focuses on the historical cost of acquiring assets and the principle of conservatism in financial reporting. The longevity of a business is determined by various factors such as its profitability, market conditions, and management decisions, rather than the cost concept.
Why is the cost of capital concept so important?
Cost of capital is cost of debt and cost of equity. The concept of cost of capital is important as it depicts the opportunity cost of making a specific investment.
What is the difference between historical cost and replacement cost?
I believe historical cost is the original cost @ time of buying. Replacement cost is the price it would cost you @ present day values
