Which of the following statements does not apply to the historical cost principle? Over time, historical cost becomes irrelevant in terms of predictive value. Historical cost represents a value at a point in time. The principle does not apply to financial instruments. Historical cost results from a reciprocal or two-way exchange. In order to measure fair value under IFRS13, an entity must determine O the item being measured, and how the item could or would be used. O the market the item would be (or is) bought and sold in. O which fair value model is being used to value the item. all of the above