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A first-time shareholder has approached you requesting some advice.
The shareholder has received the company's annual report and noticed the following statement in the summary of significant accounting policies:
Point 1: "The financial report has been prepared on the basis of historical cost, except for the revaluation of certain non-current assets which is explained in the notes."
Question 1: Explain to the shareholder why this statement is included in the accounting policy note.
filing status basic standard deduction additional standard deduction social securtiy base amountmarried joint 11400
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