Question: In general, standard setters require that most assets be recorded using historical cost because cost values may or may not be relevant. cost often

In general, standard setters require that most assets be recorded using historical

In general, standard setters require that most assets be recorded using historical cost because cost values may or may not be relevant. cost often cannot be verified. fair values may not always be representationally faithful. Ofair values may overstate assets and equity.

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