Question: PLEASe answer this multiple choice question Question 14 Not yet Varal Co. is a retailer of furniture with annual sales revenue of $2,500,000. When Varal

PLEASe answer this multiple choice question

Question 14 Not yet Varal Co. is a retailer of furniture with annual sales revenue of $2,500,000. When Varal Co. prepared its answered financial statements, it showed the cost of land the company owned as $500,000. The resale value is Marked out of $600,000. Varal Co. should 1.00 Flag question O restate the land value at $600,000 because of the conservatism concept O show the land at a cost of $500,000 because of the matching and periodicity concepts O show the land at a cost of $500,000 because of the historic cost and conservatism concepts O none of the options is correct O restate the land value at $600,000 because of the historic cost concept

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