Question 17 0.8 points Jacqul Ltd purchased an equipment on 15 July 2020 and paid $30,000 cash. An independent valuation reveals that the equipment is worth $40,000. Using historical cost as a measurement base as provided in the conceptual Framework, how should Jacqui Ltd recognise this purchase of equipment in its financial statements? O $30,000 recognised as an asset O $30,000 recognised as an asset and $20,000 as a liability $40,000 recognised as an asset The equipment should not be recognised as an asset as it cannot be reliably measured