Which of the following is the justification of reporting certain assets at historical cost?
A) Executory
B) Reliability
C) Relevance
D) Accrual

Name: Which of the following is the justification of reporting certain assets at historical cost? A) Executory B) Reliability C) Relevance D) Accrual
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Question

Quizplus · Accepted Answer

Historical cost is used because it is objective and reliable. It can easily be verified as it represents the cost originally paid.

Which of the Following Is the Justification of Reporting Certain