According to the historical cost system, what is the objective of accounting and the role of profit?

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According to the historical cost system, what is the objective of accounting and the role of profit? What criticisms are made of profit calculated under the historical cost system?

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Accounting Theory

ISBN: 9780470818152

7th Edition

Authors: Jayne Godfrey, Ann Tarca, Allan Hodgson, Jane Hamilton, Scott Holmes

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