Analyze the draw backs of Sohar LLC financial statements

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Question - Muscat LLC is planning to acquire Sohar LLC and it operates car dealerships throughout oman and the directors view this entity as an excellent strategic fit with the MuscatLLC business model. They are reviewing the financial statements of Sohar LLC but are aware that Sohar LLC is currently using historical cost accounting system. Analyze the draw backs of Sohar LLC's financial statements with suitable examples.

Reference no: EM133001725

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