Most of the professional accountants support Historical cost accounting over the Current cost accounting. As per the statements givenevaluate their agreement in support of historical costaccounting

I)The amounts are reliable, they can always be verified, and they exist on invoices and documents.

II) The amounts in the statement of financial position can be matched perfectly with the amounts in the statement of cashflows.

III) In times of rising prices, the conventional system of accounts based on historical cost does not give a true and fair view of the businessenterprise

IV) Historical cost is basically verifiable; this minimizes the risk of manipulation of figures bythe managers.

a.

Statements I, III and IV

b.

Statements I, II, III and IV

c.

Statement I, II and IV

d.

Statements I, II and III