Online Accounting Dictionary

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High value-added activity is an activity that improves value of products or services to customers. Examples of high value-added activities are: designing products, delivering products, processing customer orders, improving product quality, etc.
Historical cost is based on the dollar amount originally exchanged to acquire an asset. Such cost includes the purchase price and any additional costs necessary to obtain the asset and prepare it for the intended use. Additional costs (costs besides the purchase price) may include transportation costs, insurance for asset delivery and others. A historical cost also refers to an accounting principle requiring financial statements to be based on original costs.

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