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accounting principles, strength and weaknesses of each

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 accounting principles, strength and weaknesses of each
Answered Same Day Dec 24, 2021

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Robert answered on Dec 24 2021
106 Votes
Accounting principles, strength and weaknesses of each
Historical cost principle:-This principle states that each and every financial transaction
must be based on cost at which transaction has already been occu
ed
Strength
1. It reflects the true cost which has actually been incu
ed to acquire a particular
thing
Weakness:-
1. It fails to depict the true cu
ent position and...
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