Historical cost is widely used for asset valuation because it _____.
A)is more objective than current cost
B)requires no additional data collection
C)is more useful for predicting the effects of decision making
D)all of these answers are correct

Question

Quizplus · Accepted Answer

Historical cost is preferred for asset valuation because it is more objective than current cost, requiring no additional data collection, and is considered more useful for predicting the effects of decision making due to its reliability and simplicity.

Historical Cost Is Widely Used for Asset Valuation Because It