Question

Arguments that the cost principle is not a satisfactory basis for the
valuation of assets in
financial statements are usually based on:
a. Stronger internal control structures
b. Continued inflation
C. The lack of objective
evidence to permit verification of cost data
d. Increased availability and capacity of computers​

Answer 1

Answer:

option c and d

Explanation:

As now a days we all need laptops or phones or tablets to listen and attend the classes.. and now a days the objective is also too less..

Answer 2

Arguments that the cost principle is not a satisfactory basis for the valuation of assets in financial statements are usually based on:

a. Stronger internal control structures

b. Continued inflation

C. The lack of objective evidence to permit verification of cost data

d. Increased availability and capacity of computers

The correct answer is :

b. Continued inflation

Explanation :

Arguments that the cost principle is not a satisfactory basis for the valuation of assets in financial statements are usually based on 'Continued inflation.'

Inflation refers to the continuous increase in prices. Inflation can be considered in terms of the decline in the purchasing power of the buyer over time.

When a person's purchasing power declines and he finds himself unable or in a difficult situation to buy an item which he had easily bought in the past, when he is ready to pay the same price, then such The situation is called inflation, when due to increase in the prices of goods, the person is unable to buy the commodity at the increased price or he has to buy the commodity by investing extra money.

Inflation is often expressed as a percentage. One unit of currency effectively buys less than it did in the earlier period. The opposite state of inflation can be called deflation, when prices fall and purchasing power increases.

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