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Which of the following accounting statements is INCORRECT? a) The accounting policy to capitalize or expense a cost will not affect cash flows. b) Depreciation
Which of the following accounting statements is INCORRECT?
a) The accounting policy to capitalize or expense a cost will not affect cash flows.
b) Depreciation is not recorded with the fair value model.
c) Goodwill arises as a residual in the purchase of other assets acquired in a business combination.
d) Under the revaluation model, the asset is recorded at the cost less accumulated depreciation and accumulated impairment losses.
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