Historical cost is used in valuing many of the elements of the balance sheet. Why is historical
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Historical cost is used in valuing many of the elements of the balance sheet. Why is historical cost used rather than current market values for plant and equipment? Do the same arguments hold for marketable securities? Explain.
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Related Book For 
Financial Accounting A Decision Making Approach
ISBN: 9780471328230
2nd Edition
Authors: Thomas E. King, Valdean C. Lembke, John H. Smith
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