Which among the following does not hold good for Historical cost accounting? a. Historical cost is relevant for making economic decisions b. Sufficient provision for depreciation is made in historical cost accounting c. Historical cost accounting survives test of time. d. Historical cost is less subject to manipulation.
Which among the following does not hold good for Historical cost accounting? a. Historical cost is relevant for making economic decisions b. Sufficient provision for depreciation is made in historical cost accounting c. Historical cost accounting survives test of time. d. Historical cost is less subject to manipulation.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which among the following does not hold good for Historical cost accounting?
a.
Historical cost is relevant for making economic decisions
b.
Sufficient provision for depreciation is made in historical cost accounting
c.
Historical cost accounting survives test of time.
d.
Historical cost is less subject to manipulation.
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