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Historical concept example this example pls?
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Historical concept example this example pls?
A historical cost is a measure of value used in accounting in which the price of an asset on the balance sheet is based on its nominal or original cost when acquired by the company. The historical-cost method is used for assets in the United States under generally accepted accounting principles (GAAP).

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Historical concept example this example pls?
Historical cost is nothing but purchase price . in balance sheet , assets are represented in Purchase price not in current cost. hence it is used .
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Historical concept example this example pls?
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