Cost concept basically recognizes ______?
لاگت کا تصور بنیادی طور پر ______ کو پہچانتا ہے؟
- Realizable value
- Replacement cost
- Fair market value
- Historical cost
Explanation
The cost concept basically recognises historical cost or the acquisition cost of the asset.
The value of an asset is to be determined on the basis of historical cost.
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