All of the following are justifications for using historical cost as the basis for recording fixed assets except

a). historical costs are relevant even as time passes because they represent the item's fair value.

b). the cost provides verifiable valuation of the asset.

c). historical cost is equal to fair value at the date of acquisition.

d). gains from holding the asset are recognized only when realized through a sale transaction.

Answer rating: 100% (QA)

ANSWER d gins frm hlding the sset re regnized nly when relized thrugh sle trnstin histri... View the full answer