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On June 1. The city of anchorage sold land that originally cost 950,000 for its appraised value of 1,400,000. and on December 31, 2014, the
- On June 1. The city of anchorage sold land that originally cost 950,000 for its appraised value of 1,400,000. and on December 31, 2014, the land's market value was estimated to be $1,450,000. The land is valued on the Dec 31 balance sheet at 1,400,000. This valuation is an application of which concept
A. Revenue recognition
B Historical cost
C. Expense recognition
D. Conservatism
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