Replacement cost is one way to measure the value of an item.Which of the following best describes replacement cost?
A)What you paid for the item.
B)What it would cost to replace the item with an identical item in the same condition.
C)What it would cost to replace the item with an identical new item.
D)What the item could be sold for now.

Question

Quizplus · Accepted Answer

Replacement cost refers to the amount it would cost to replace an item with another of the same kind and quality in its current condition, not necessarily new.

Replacement Cost Is One Way to Measure the Value of an Item.Which