10. Identify historical perspectives on pricing and explain why non-cost pricing methods are no longer practical.
> Answer:
>
> The historical cost basis requires that most assets and liabilities be measured and reported at their acquisition price. Current cost accounting, on the other hand, requires that assets and liabilities be measured and reported at their current or market value.
> - Not covers costs of food, labor, additional operation costs( rent, energy , promotional advertising)
> - Not perception of value and competition
> - Requested by law