The original cost at which an asset or liability is acquired is known as -------- | Faculties

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Mr. Dubey

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📊 Financial Accounting

Q. The original cost at which an asset or liability is acquired is known as --------

(A) Amortization
(B) Replacement cost
(C) Historical cost
(D) Carrying cost

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✅ Correct Answer: (C) Historical cost

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