Question

A company purchased land in 2010 for ₹10 lakh. In 2025, its market value rose to ₹60 lakh. However, the company continues to record it at ₹10 lakh. Which accounting principle justifies this treatment?

A Materiality Principle
B Matching Principle
C Historical Cost Convention
D Going Concern Assumption
Practice Next

Relevant for Exams:

Hey! Ask a query