Statement defines the transactional approach

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Reference no: EM13156832

Which of the following statements best defines the transactional approach?

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

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

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

d) The transactional approach follows the accrual basis of accounting.

Reference no: EM13156832

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