What are the limitations of using the historical cost principle as a basis for valuation of assets

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What are the limitations of using the historical cost principle as a basis for valuation of assets subsequent to acquisition?

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Financial Accounting

ISBN: 978-1259103285

5th Canadian edition

Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M

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Question Posted: Aug 04, 2015 03:52 AM

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What are the limitations of using the historical cost principle as a basis for valuation of assets

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Historical cost reflects the market value of an asset at the time of acq...View the full answer

Financial Accounting

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