Classify the following hypotheses according to whether they are the conclusions of positive or normative theories. Explain
Question:
Classify the following hypotheses according to whether they are the conclusions of positive or normative theories. Explain your answers.
(a) Historical cost accounting should be replaced by a market value system.
(b) Historical cost accounting provides information used by creditors.
(c) Historical cost accounting is used by many managers to allocate costs in determining divisional performance.
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Related Book For 
Accounting Theory
ISBN: 9780470818152
7th Edition
Authors: Jayne Godfrey, Ann Tarca, Allan Hodgson, Jane Hamilton, Scott Holmes
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