Historic costs should never be used when deciding what costs are relevant to a decision. despite this,
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Historic costs should never be used when deciding what costs are relevant to a decision. despite this, historic costs are the principal inputs for preparing the main financial accounting statements (income statements and statements of financial position). Why is this?
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This is so because the income statement ...View the full answer
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Related Book For 
Accounting And Finance An Introduction
ISBN: 9781292312262
10th Edition
Authors: Eddie McLaney, Peter Atrill
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