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Which of the following statements best defines the transactional approach?

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

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

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

The transactional approach follows the accrual basis of accounting.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M984847

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