Jacqui Ltd purchased an equipment on 15 July 2020 and paid $30,000 cash. An independent valuation reveals that cost as a measurement base as provided in the Conceptual Framework, how should Jacqui Ltd recognise this purchase of equipment in financial statement.

$30,000 recognised as an asset and $10,000

O $30,000 recognised as an asset

O $40,000 recognised as an asset

The equipment should not be recognised as an asset as it cannot be reliably measured

as a liability

please give me all answer quickly.

it is urgent. please