Multiple Choice
The accountant of Broken Bay Ltd decided to retain the historical cost of the entity's intangible assets because it was difficult to obtain fair value of these assets.This action is consistent ____________.
A) substance over form.
B) balancing of relevance and reliability.
C) accrual accounting.
D) cash accounting.
E) true and fair view.
Correct Answer:
Answered by ExamLex AI
Correct Answer:
Answered by ExamLex AI
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