Which of the following statements is not true? a. Historical cost can be misleading in the computation

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Which of the following statements is not true?

a. Historical cost can be misleading in the computation of zakat.

b. AAOIFI adopted the cost concept in its conceptual framework.

c. While the cost principle ensures reliability, its relevance is sometimes questioned.

d. The cost principle ensures that the accounts are based on the opinions of individuals in charge of the accounts.

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Principles Of Islamic Accounting

ISBN: 9781119023296

1st Edition

Authors: Nabil Baydoun, Maliah Sulaiman, Roger J. Willett, Shahul Ibrahim

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Question Posted: Jan 31, 2024 04:01 AM

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Which of the following statements is not true? a. Historical cost can be misleading in the computation

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The statement that is not true is d The cost principle ensures that the accounts are based on the op...View the full answer

Principles Of Islamic Accounting

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