Question: Using concepts to be found in the IASBs Conceptual Framework, clearly distinguish and analyse the following pairs of ideas and explain how the difference(s) between

Using concepts to be found in the IASBs Conceptual Framework, clearly distinguish and analyse the following pairs of ideas and explain how the difference(s) between each pair affects the way in which financial reporting is conducted:

a) Historical cost vs. current values

b) Financial capital maintenance vs. Physical capital maintenance

c) Proprietary view vs. Entity view of the company

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