Accountancy, asked by kaurjashan023, 1 year ago

Name the limitations of financial Accounting​

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Answered by Anonymous
14

Answer:

The following are all limitations of financial statements: Dependence on historical costs. Transactions are initially recorded at their cost. This is a concern when reviewing the balance sheet, where the values of assets and liabilities may change over time.

Answered by Anonymous
7
  • The following are all limitations of financial statements: Dependence on historical costs. Transactions are initially recorded at their cost. This is a concern when reviewing the balance sheet, where the values of assets and liabilities may change over time.
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