Question:Wilson & Co. owns land which has cost it $100,000. If a "quick sale" of the land were necessary to generate cash, the Co. feels it would receive only $80,000. The Co. continues to report the asset on the balance sheet at $100,000. Under which of the following concepts is it justified? 

A The historical-cost principle. 
B The objectivity principle. 
C Neither of the above. 
D The historical-cost principle and The objectivity principle. 

+ Answer
C 

+ Explanation
answer not sure

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Md. Habib Ullah

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