Historic cost is the cost incurred by an individual or enterprise in acquiring an item, measured at the time of the originating transaction.

Name: Historic cost is the cost incurred by an individual or enterprise in acquiring an item, measured at the time of the originating transaction.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Historic cost is the actual cost incurred in acquiring an item at the time of the transaction. It is also known as the historical cost.

Historic Cost Is the Cost Incurred by an Individual or Enterprise