Accountancy, asked by durgeshsingh017, 8 months ago

is the accounting record value of assets that is shown in the balance sheet.

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Answered by payal579

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 is used for assets under generally accepted accounting principles (GAAP) .

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