Question

According to cost concept as are always valued at

Answer 1

Answer:

According to the cost concept of Accounting, Asset are valued at the Historical Cost, which is the original cost of the asset and the price of an asset on the balance sheet is based on its nominal or original cost when acquired by the company.

For accounting record purposes, assets should always be recorded at cost.

Asset-based valuation allows you to calculate a business's net worth by adding up the current value of its assets less the value of its liabilities.

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