There is a view that historical cost accounting is not able to truly represent the affair of the business entity it is reporting. Explain what is historical cost accounting and the possible reasons for such a view.© BrainMass Inc. brainmass.com June 3, 2020, 7:56 pm ad1c9bdddf
Historical cost accounting is the situation in which accountants record revenue, expenditure and asset acquisition and disposal at historical cost: that is, the actual amounts of ...
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