DEC 2014 MCQ-3

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February 24, 2016 at 3:35 pm #301852
yushanshan
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Hi sir,
As at 30 Sep 2014, the current price is 600k , I just wonder the reason why we need to go on depreciating.
Thanks in advance.
February 25, 2016 at 7:29 am #301951
MikeLittle
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This is not a replacement cost exercise or the valuation method that we’re looking at. The concept of current cost accounting is to ask “What would be the value of a 2 year old asset if we had had to pay current prices?”
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