Discuss the proposition that businesses should be required to publish their P&L statement on replacement cost lines

Question:

Discuss the proposition that businesses should be required to publish their P&L statement on replacement cost lines and their on net realizable value lines.
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...