<Ul> <Li> Historical cost accounts give no indication of current values of the assets of a business </Li> <Li> Historical cost accounts do not record the opportunity costs of the use of older assets , particularly property which may be recorded at a value based on costs incurred many years ago </Li> <Li> Historical cost accounts do not report / account the loss of real value of nominal monetary items as a result of inflation or the gain in real value in nominal monetary items during deflation . </Li> </Ul>
<Ul> <Li> Historical cost accounts give no indication of current values of the assets of a business </Li> <Li> Historical cost accounts do not record the opportunity costs of the use of older assets , particularly property which may be recorded at a value based on costs incurred many years ago </Li> <Li> Historical cost accounts do not report / account the loss of real value of nominal monetary items as a result of inflation or the gain in real value in nominal monetary items during deflation . </Li> </Ul>
what is a reason that a company would depart from the historical cost principle
what is a reason that a company would depart from the historical cost principle
give no indication of current values of the assets of a business
give no indication of current values of the assets of a business