The historic cost concept is an extension of the money measurement rule. It requires transactions to be recorded at the "original" cost. The changes in prices or values will be ignored.
Chat with our AI personalities
Customer,Cost,Communication
Valuation Concept is Valuation concept no concept about it.
It is a mathematical concept. It does not have a concrete existence.It is a mathematical concept. It does not have a concrete existence.It is a mathematical concept. It does not have a concrete existence.It is a mathematical concept. It does not have a concrete existence.
There is no such concept in maths. A plane figure is a mathematical concept but that is not what the question is about.
Concept used with an object. For exampel: We will concept the car at the next meeting.