CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon


Question

Fixed assets are recorded at _______.


A
current cost
loader
B
original cost
loader
C
depreciated cost
loader
D
all of the above
loader

Solution

The correct option is C original cost
Fixed assets are those which gives the benefits to the organization on a long term basis. Fixed Assets are recorded in the books of account on the original cost irrespective of their market value as per the cost concept in accounting.

Principles and Practice of Accounting

Suggest Corrections
thumbs-up
 
0


similar_icon
Similar questions
View More


similar_icon
People also searched for
View More



footer-image