Canada and the U.S. both experimented with price level accounting in the 1970s. This practice was quickly abandoned largely because
A) inflation rates declined after the 1970s.
B) the cost of providing this information was quite high.
C) it was a clear violation of the Historical Cost Principle.
D) it provided disclosure figure which were not verifiable.

Question

Quizplus · Accepted Answer

The cost of providing price level accounting information was high, making it impractical for widespread adoption.