Question

cost concept basically recognised
a) Faire market value
) b) Historical cost
O c) Realisable value
O d) Replacement cost​

Answer 1

Answer:

B. historical cost

Explanation:

this is the answer

Answer 2

Answer:

B) Historical cost

- 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.