Under which accounting concept fixed assets are recorded at cost without considering the market pric...........

Accountancy (11th) Chapter-2 Theory base of Accounting

Under which accounting concept fixed assets are recorded at cost without considering the market price (whether low or high).

Prudence concept

Revenue concept

Matching concept

Historical Cost Principle

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Explanation:

A historical cost is a measure of value used in accounting in which the price of an asset on the balance sheet is based on its nominal or original cost when acquired by the company. The historical-cost method is used for assets in the United States under generally accepted accounting principles (GAAP).