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Deegan (2014, p. 171) cites Chambers (1966) as arguing that historical cost information suffers from problems of relevance in times of rising prices. Explain what

Deegan (2014, p. 171) cites Chambers (1966) as arguing that historical cost information suffers from problems of relevance in times of rising prices. Explain what is meant by this statement. Evaluate whether any of the alternatives to historical cost provide information which is of greater relevance to users of accounting. (750 words)

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