The two groups that dominated the normative period of accounting theory development were:
A)The proponents of historical cost accounting and the conceptual framework proponents
B)The critics of historical cost accounting and the conceptual framework opponents
C)The proponents of historical cost accounting and the conceptual framework opponents
D)The critics of historical cost accounting and the conceptual framework proponents

Question

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During the normative period of accounting theory development, there was a significant debate between those who criticized historical cost accounting and those who supported the development of a conceptual framework for accounting.

The Two Groups That Dominated the Normative Period of Accounting