The AASB has examined a number of different accounting measurement systems that may be used in the future as alternatives to the historical cost system. Which of these is not one of those systems?
A) General price level accounting
B) Future value accounting
C) Relative current value accounting
D) Current value accounting

Question

Quizplus · Accepted Answer

The AASB has considered the use of general price level accounting, relative current value accounting, and current value accounting as potential alternatives to historical cost accounting. However, future value accounting is not a commonly used accounting measurement system and has not been proposed as an alternative by AASB.

The AASB Has Examined a Number of Different Accounting Measurement