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Which of the additional disclosures must be made

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Reference no: EM132765946

Problem 1: Accounting concepts are NOT derived from which of the following?

a) Experience

b) Pragmatism (practicality)

c) Laws of nature

d) Inductive reasoning

Problem 2: Which of the following additional disclosures must be made when an entity chooses the cost model as the accounting policy for investment property?

a) The fair value of the property

b) The present value of the property

c) The value in use of the property

d) The net realizable value of the property

Reference no: EM132765946

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