Which of the following statements is correct? (a) The replacement cost of an asset is normally regarded

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Which of the following statements is correct?

(a) The replacement cost of an asset is normally regarded as a more reliable measure than historical cost.

(b) Historical cost is rarely used by companies in practice because it is not reliable.

(c) The replacement cost of an asset is also called the ‘entry price’.

(d) The replacement cost of an asset is also called the ‘exit price’.

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Financial Accounting

ISBN: 9781292244471

8th Edition

Authors: Pauline Weetman

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