Question
hi, In a period of rising prices, the assets on the balance sheet will be understated. Therefore, the balance sheet will be misleading. comment on
hi,
In a period of rising prices, the assets on the balance sheet will be understated. Therefore, the balance sheet will be misleading. comment on this.
the question is that i don't understand why the assets on the balance sheet will be understated when the there's a period of rising prices.
thank you
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
9th Edition
978-0470317549, 9780470387085, 047031754X, 470387084, 978-0470533475
