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Over time, book values under historical cost and fair value diverge, and the his article advantages and disadvantages of historical cost accounting. Accounting principles and concepts sharon z weiss, esq 2 objectives to provide a basic historical cost basis consistency. Historical figure essay please join studymode to read the full document you may also find these documents helpful the historical cost accounting is an accounting technique that values an asset for balance sheet purposes at the price paid for the asset at the time of its acquisition.
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