Fixed assets are valued at and shown in the books at their ...

466 views

General Accounting Principles Accounting standards Add to Study Deck

Fixed assets are valued at and shown in the books at their

Cost price

Sale price

Market price

Revalued price

Explanation:

Accounting cost concept states that all assets are recorded in the books of accounts at their purchase price, which includes cost of acquisition, transportation and installation and not at its market price.

By: NIHARIKA WALIA

Profile ResourcesReport error

General Accounting Principles

Submit Error

Let's Discuss

Post Comment

Weekly Current Affairs

Week 3, 14-May-23 To 20-May-23

Download Now

Weekly Quiz

Week 3, 14-May-23 To 20-May-23

Start Now