Which of the following is not a valid reason for reporting non-current assets at current value rather
Question:
Which of the following is not a valid reason for reporting non-current assets at current value rather than cost?
(a) To prevent long-life assets from being reported at out-of-date historical costs
(b) To avoid having to pay higher taxes
(c) To report performance correctly by matching earnings with the proper costs of assets used
(d) To keep owners of the business better informed of their equity in the business
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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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