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What effect does a historical cost concept have on a company’s asset values and profits in times of rising prices?

What effect does a historical cost concept have on a company’s asset values and profits in times of rising prices?<br/>

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Asked by Natashanelesh, Last updated: Dec 10, 2024

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natashanelesh

natashanelesh

natashanelesh
Natashanelesh

Answered Dec 07, 2019

Asset value understated profit overstated
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