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Mark and Amanda are having the following conversation: Mark: How can you compare the financial positions of businesses? Amanda: You can look at the Balance

Mark and Amanda are having the following conversation:

Mark: How can you compare the financial positions of businesses?

Amanda: You can look at the Balance Sheets of businesses.

Mark: Humare the measurement bases of Balance Sheet items identical for all businesses?

Amanda: not sure..

Requirement:

Explain possible reasons (with two examples) of how items in the Balance Sheets of similar businesses may be measured differently?

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