| Abstract: | The article was prepared at a time when the business community still seemed very uncertain about the significance of changing price levels in relation to accounting statements. Those, including the author, who believed that the unadjusted figures being produced in company revenue accounts and balance sheets gave potentially misleading information sought in various ways, mainly in books and articles, to give greater awareness of the problem. The author's contribution was designed to demonstrate, simply and unequivocally, how business capital, in real terms, is liable to be eroded in periods of rising prices. |
