Multiple Choice Questions on The cost of replacing an existing asset of the business by identical asset is known as ........ for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

The cost of replacing an existing asset of the business by identical asset is known as ........

Costing - Phase (I & II) Overview of Cost and Management Accounting
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    The cost of replacing an existing asset of the business by identical asset is known as:

    Sunk Cost

    Incorrect Answer

    Opportunity Cost

    Incorrect Answer

    Replacement Cost

    Correct Answer

    Differential cost

    Incorrect Answer
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    Explanation:

    Replacement cost is defined as the cost of replacing an existing asset of the business by identical asset. Replacement cost of an asset consists of current market price of the asset plus the necessary expenditure on its acquisition and installation.

    By: Vikas Goyal
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