Historical cost is the same as
A) residual value.
B) original cost.
C) accumulated depreciation.
D) book value.

Name: Historical cost is the same as A) residual value. B) original cost. C) accumulated depreciation. D) book value.
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Question

Quizplus · Accepted Answer

Historical cost refers to the original cost of an asset, including any costs incurred to get the asset ready for use. It does not include accumulated depreciation or residual value, and it may or may not be the same as the current book value.

Historical Cost Is the Same as