The original cost at which an asset or liability is acquired is known as ............

CS Executive · Corporate and Management Accounting · PYQS · June 2021
The original cost at which an asset or liability is acquired is known as ............
(A) Carrying cost
(B) Replacement cost
(C) Amortization
(D) Historical cost

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Corporate Accounting

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