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1. Identify four qualities that are pertinent to accounting measures. 2. List arguments for and arguments against the use of historical cost, general price-level adjustment,
1. Identify four qualities that are pertinent to accounting measures.
2. List arguments for and arguments against the use of historical cost, general price-level adjustment, exit value (net realizable value), and replacement cost (entry value). Explain why the discounted cash flow method is virtually impossible to apply in a real situation.
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