In Australia,in recent years,there has been a move to show some assets at current cost rather than at historical cost.This is because the need for relevancy sometimes outweighs the requirement for reliability.

Question

Quizplus · Accepted Answer

This statement is true. The move to show some assets at current cost rather than historical cost is driven by the need for relevancy, as it provides more up-to-date and relevant information about an entity's financial position. However, it also means that the reported figures may be less reliable than those based on historical cost, as they are subject to fluctuations in market values.

In Australia,in Recent Years,there Has Been a Move to Show