Question

Which of the following bases for fixed asset valuation was being used by Mexico until 2008?

a. Historical cost
b. Historical cost later restated in terms of GPP
c. Historical replacement cost
d. Net realizable value

Answer 1

The correct answer is b. Historical cost later restated in terms of GPP .

Step-by-step explanation:

Historical cost of assets is understood as the acquisition cost added with the values that are incorporated during its life. ... At the end of the useful life of the asset, the historical cost must be equal to the accumulated depreciation, so that its difference is equal to zero (0).