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a. Cost b.Current market value c. Expected selling price
will recorded at the original cost even if the market value of the Assets increase or decrease because of the Cost Principal
At cost because of cost principal
No doubt at cost price...option A) is the correct answer
At cost price.
The answer is:
a. cost
Its all depend on the nature of assets. For example:
- Fixed assets at cost minus depreciation.
- Inventories at cost or net realisable value whichever is less.
- Internally generated goodwill should not be capitalised, hence does not form part of statement of financial position.
- Long term accounts receivable at fair value.
