According to gaap, the method that can be utilized in recording the acquisition of a fixed asset is Cost method.
- In GAAP , the one method that is notable and accurate in recording a fixed asset is the cost method.
- The cost method can be regarded as method utilized in recording the acquisition cost of the fixed asset as well as the costs of bringing the fixed asset to the condition that is needed for it to be used as well as the required location.
Therefore, cost method helps in recording acquisition of a fixed asset .
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