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Why isn’t the value of an asset adjusted as the market value of that asset changes?

Why isn’t the value of an asset adjusted as the market value of that asset changes?

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--The value of an asset is NOT ADJUSTED as the market value of that asset changes BECAUSE of the 'HISTORICAL COST CONCEPT' of the accounting.

--As per the historical cost concept of accounting, the asset is to be recorded and shown in the Balance Sheet at the original historical cost at which it was acquired.

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