Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term.
-Historical cost
A)Basis of measurement for fixed assets.
B)Reporting of all information that could affect decisions.
C)Occurs when goods or services are transferred to the customer.
D)Discounts future cash flows.
E)Application of GAAP sometimes avoided under this constraint.

Question

Quizplus · Accepted Answer

Historical cost is primarily associated with the valuation and reporting of fixed assets at their original purchase price.

Listed Below Are Five Terms Followed by a List of Phrases