Different assets reflect different levels of inflation

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Reference no: EM131343441

1. One of the limitations of the balance sheet is that the dollar amounts for different assets reflect different levels of inflation. That is the result of the ________ assumption.

recognition

matching

stable monetary unit

conservatism

2. Information is relevant if it has ________ and ________.

verifiability; comparability

timeliness; materiality

predictive value; confirmatory value

reliability; feedback value

Reference no: EM131343441

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