The amount paid to acquire an asset is known as its:historical costmarket costcurrent costpresent value
Question
Solution 1
The amount paid to acquire an asset is known as its historical cost.
Here's why:
The historical cost of an asset is the original monetary value of the asset, as recorded on the balance sheet. It is the purchase price or construction cost of the asset.
This cost does not change over time, ev Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
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