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Question 1 NORMATIVE ACCOUNTING THEORIES (20 marks) Explain the following measurement methods together with strengths and weaknesses of each: (a)Historical cost accounting (5 marks) (b)Current

Question 1 NORMATIVE ACCOUNTING THEORIES (20 marks) Explain the following measurement methods together with strengths and weaknesses of each: (a)Historical cost accounting (5 marks) (b)Current purchasing power accounting (5 marks) (c) Current cost accounting (applying replacement costs). (5 marks) (d) Continuously contemporary accounting

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