Which of the following statements is incorrect? (a) The non-aggregation rule is applied when comparing cost and
Question:
Which of the following statements is incorrect?
(a) The non-aggregation rule is applied when comparing cost and net realisable value of inventory
(b) Non-current assets are depreciated to comply with the matching concept
(c) Comparability of financial statements is impaired unless the consistency concept is applied
(d) A transaction is accounted according to its legal form rather than its commercial substance
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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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