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Which of the following statements best defines the transactional approach?

A: The transactional approach is justified by the qualitative characteristic of relevance.

B: The transactional approach is conceptually identical to the capital maintenance concept.

C: Under the transactional approach, assets and liabilities are generally valued at the historical cost.

D: The transactional approach follows the accrual basis of accounting.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M952342

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