Question: Financial statements prepared using generally accepted accounting principles: Select one: a. use market-based costs and are adjusted for the effects of increasing prices. b. use

Financial statements prepared using generally accepted accounting principles: Select one: a. use market-based costs and are adjusted for the effects of increasing prices. b. use historical costs and are adjusted for the effects of increasing prices. c. use historical costs and are not adjusted for the effects of increasing prices. d. use market-based costs and are not adjusted for the effects of decreasing prices.

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