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Which arguments in favor of price level adjusted financial

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Problem 1: Which of the following arguments in favor of price level adjusted financial statements is not valid?

a. Price level adjusted financial statements use historical cost

b. Price level adjusted financial statements compare uniform purchasing power among various periods

c. Price level adjusted financial statements measure current value.

d. Price level adjusted financial statements measure earnings in terms of a common peso

Problem 2: Which of the following methods of reporting attempts to eliminate the effect of changing value of the peso?

a. Discounted net present value of future cash flows

b. Historical cost restated for change in the general price level

c. Replacement cost

d. Exit value

Reference no: EM132769544

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