Which accounting assumption or principle states that historical cost can lose relevance and other valuation methods may be more relevant to financial statement users?

a. recognition
b. accrual accounting
c. going-concern assumption
d. mixed attribute measurement model

D. Mixed attribute measurement model

Explanation:

The mixed attribute measurement model is one which is used as a standard for measurement of the value of assets and liabilities under generally acceptable accounting principles.

Historical valuation helps to under the range or historical cost of an asset but this valuation, overtime, becomes old and obsolete. Although the historical valuation helps to provide basic and authentic information about the asset, because it is old, its valuation now has to be redone. To revalue an asset in the current economic condition, the Financial Accounting Standard Board, FASB,  as well as International Accounting Standard Board, IASB,  have continually developed accounting standards to value assets and liabilities using current value.

The current value of the asset and liabilities according to these boards are meant to be fair to both seller and buyer. According to these boards, the fair value of assets and liabilities is the amount that is required to exchange or take over or settle assets and liabilities as appropriate.

I hope this helps.

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