Which of the following statements is/are correct? I. Cost concept is based on historical cost. II. Cost concept is highly objective in nature. Select the correct answer using the codes given below.

Which of the following statements is/are correct? I. Cost concept is b

1.	Which of the following statements is/are correct? I. Cost concept is based on historical cost. II. Cost concept is highly objective in nature. Select the correct answer using the codes given below.
A.	Only I
B.	Only II
C.	Both I and II
D.	None of the above
Answer» D. None of the above

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Which of the following statements is/are correct? I. Cost concept is based on historical cost. II. Cost concept is highly objective in nature. Select the correct answer using the codes given below.

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