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Asked: October 28, 20202020-10-28T21:11:03+00:00 2020-10-28T21:11:03+00:00In: Finance

What justifies the historical cost concept in accounting (i.e., why are assets recorded at the amount at which they are acquired)?

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What justifies the historical cost concept in accounting (i.e., why are assets recorded at the amount at which they are acquired)?

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