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What defense can you build for cost as the basis for financial accounting

What defense can you build for cost as the basis for financial accounting 



Ex. 1—Cost principle.
Cost as a basis of accounting for assets has been severely criticized. What defense can you build for cost as the basis for financial accounting ?
Ex. 2—Matching concept.
A concept is a group of related ideas. Matching could be considered a concept because it includes ideas related to both revenue recognition and expense recognition. Briefly explain the ideas in (a) revenue recognition and (b) expense recognition.




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26 May 2016

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  1. Genius

    What defense can you build for cost as the basis for financial accounting

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