One of the limitations of accounting information is the historical nature of the financial statements. Provide an

Question:

One of the limitations of accounting information is the historical nature of the financial statements. Provide an example of an asset from the of JB Hi-Fi Ltd where the asset's historical cost may not reflect its current value.
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...