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(a) Give a brief summary of the current value replacement cost accounting system (entry values).

(b) Give a brief summary of the current value net realisable value accounting system (exit values).

(c) To what extent do you consider it would be useful to prepare financial statements which used entry values for the profit and loss account and exit values for the balance sheet and why?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91625277

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