answersLogoWhite

0


Best Answer

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.

User Avatar

Wiki User

16y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: What is the Historic cost concept?
Write your answer...
Submit
Still have questions?
magnify glass
imp