Current cost
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Current cost is asset measure based on the cost of purchasing an asset today identical to the one currently held, or the cost of purchasing an asset that provides services like the one currently held if an identical asset cannot be purchased.
Definitions
According to Cost Accounting by Horngren, Datar, Rajan (14th edition),
- Current cost. Asset measure based on the cost of purchasing an asset today identical to the one currently held, or the cost of purchasing an asset that provides services like the one currently held if an identical asset cannot be purchased.
