Another term for historical cost is:
A)entry price.
B)exit price.
C)fee price.
D)record price.

Question

Quizplus · Accepted Answer

Although some exceptions exist,both IFRS and GAAP require that items be recorded only after an exchange between the company and another party.Initially,these items are recorded at the value they enter the company (called the entry price or historical cost).Later,this value may be revised (upwards or downwards)as a result of events or changes in circumstances.

Another Term for Historical Cost Is