Question

Which item may be included in a
Balance Sheet at more than
historical cost​

Answer 1

Answer:

land and building is correct

Answer 2

We need to answer which item may be included in the balance sheet at more than the historical cost

• The item which can be included in the balance sheet at more than the historical cost is fixed assets.
• Fixed assets is an item which has to be written on the balance sheet
• The fixed assets can be written at actual cost and not at historical cost as we maintain an account called depreciation
• Depreciation is an account in which how much the fixed asset has depreciated over the years is maintained.
• The actual value of the fixed asset will be got by subtracting the depreciation amount from the fixed asset.