Accountancy, asked by malinisri3535, 2 months ago

Change in value of fixed assets is not recorded in account because of​

Answers

Answered by RUPAMCHAKRABORTY
1

Answer:

Fixed assets are not shown in the books at market value because : (i) as per historical concept, we recorded fixed assets at original cost, and (ii) as per going concern concept, the assets are not going to be sold in the near future, Hence, the market value is irrelevant

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