assume that two firms are both following generally accepted accounting principles. both firms commenced operations two years ago with $1 million of identical fixed assets, and neither firm sold any of those assets or purchased any new fixed assets. the two firms would be required to report the same amount of net fixed assets on their balance sheets as those statements are presented to investors. a. true b. false

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02-11-2022
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assume that two firms are both following generally accepted accounting principles. both firms commenced operations two years ago with $1 million of identical fixed assets, and neither firm sold any of those assets or purchased any new fixed assets. the two firms would be required to report the same amount of net fixed assets on their balance sheets as those statements are presented to investors. a. true b. false

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