Historical cost-depreciated historical cost and market value

Assignment Help Financial Accounting

Reference no: EM13827214

1. For the purpose of the balance sheet preparation, there are several different measurement bases are used (historical cost, depreciated historical cost, market value, realizable vaue, and present value) which compromise the comparability characteristic of accounting information?

a) true

b) false

2. The income statement is the only statement dated as of the point in time?

a) true

b) false

3. Assets and liabilities come into existence at different times and are not affected the same way by inflation and specific price level changes?

a) true

b) false

Reference no: EM13827214

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