AF Assume that two firms are both following generally accepted accounting principles. Both firms...
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AF Assume that two firms are both following generally accepted accounting principles. Both firms commenced operations two years ago with $ million of identical fixed assets, and neither firm sold any of those assets or purchased any new fixed assets. The two firms could report different amounts of net fixed assets on their balance sheets and both firms could still meet the standards of generally accepted accounting principles. True False 
AF Assume that two firms are both following generally accepted accounting principles. Both
firms commenced operations two years ago with $ million of identical fixed assets, and
neither firm sold any of those assets or purchased any new fixed assets. The two firms could
report different amounts of net fixed assets on their balance sheets and both firms could still
meet the standards of generally accepted accounting principles.
True
False
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