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example of how it can be applied. 3. Give an example of an accounting convention usually adopted in historical cost accounting. Conventions govern the way
example of how it can be applied. 3. Give an example of an accounting convention usually adopted in historical cost accounting. Conventions govern the way accounting is practised, and conventions are, by definition, known from practice. (a) What theoretical approach is used to derive conventions? (b) What does your answer to (a) imply about the potential for accounting theories based on conventions to be innovative in providing useful information
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