The unit of measure used in Canadian financial statements is the nominal dollar. What is a nominal

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The unit of measure used in Canadian financial statements is the nominal dollar. What is a nominal dollar? What real economic costs are ignored by using a nominal dollar as the unit of measure, rather than using a unit of measure that takes into consideration the changing purchasing power of a dollar?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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