Which Statement Describes the "Historical Cost Model

question 39

Multiple Choice

Which statement describes the "historical cost model"?

• A)A model which keeps the carrying value of an asset and adjusts for depreciation and impairment.
• B)A model which restates the value of an asset at each measurement date.
• C)A model which restates the carrying value of an asset to the asset's fair value on the date of revaluation.
• D)A model which values the asset based on its productive capacity.

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Definitions:

Behaviorist

A psychology perspective focusing on observable behaviors and the ways they're learned, often emphasizing the role of environment over genetics.

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Fundamental guidelines or concepts that explain how individuals acquire, process, and retain knowledge or skills over time.

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Chimpanzee

A species of great ape native to the forests and savannahs of tropical Africa, known for its intelligence and complex social behaviors.