Calculate the value of this van under the following bases: a) Historical cost b) Net realisable value c) Current cost d) Present value
Kindly solve question a, b, c, and d
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Fixed assets refer to those tangible assets of the organization that are not purchased with the purpose of resale. It includes assets such as plant, property, machinery and many more. Fixed assets are recorded in the balance-sheet on their book value. All the fixed assets except land gets depreciated each year as per the method of depreciation opted which can either straight-line method or reducing balance method or the method recommended by the taxation authority.
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