Question: Historical cost accounting is _ _ _ _ _ . An accounting method that lets preparers of financial statements estimate the value of assets and

Historical cost accounting is _____.
An accounting method that lets preparers of financial statements estimate the value of assets and liabilities given market conditions
An accounting principle that lets preparers of financial statements revise cost numbers as values of assets and liabilities change
An accounting principle used to value assets and liabilities at their original cost price
A way of valuing assets and liabilities that allows for inflation

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