Historical cost concept, The historical cost concept reflects the fact that financial, Accounting Basics

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Historical cost concept

The historical cost concept reflects the fact that financial accounting practice favors:

Reliability over relevance

Management's best guess over historical financial information

Relevance over reliability

Consensus market values over historical financial information

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Accounting Basics: Historical cost concept

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Accounting Basics: Historical cost concept

Reference No:- TGS0521007

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Explain how ecosystems recover naturally

Q : Radiometric dating and the fossil record

Q : Fundamental accounting equation

Q : How circular flow diagram shows interaction of households

Q : Historical cost concept

Q : Events of a recent accounting scandal

Q : Describe the principle of natural selection

Q : What are the environmental implications

Q : Find if company type is independent of level of risk stock

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Historical cost concept

Reference No:- TGS0521007

Recent Questions Asked Accounting Basics

Q : Explain how ecosystems recover naturally

Q : Radiometric dating and the fossil record

Q : Fundamental accounting equation

Q : How circular flow diagram shows interaction of households

Q : Historical cost concept

Q : Events of a recent accounting scandal

Q : Describe the principle of natural selection

Q : What are the environmental implications

Q : Find if company type is independent of level of risk stock

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