According to the Philips Approach to Accounting for Inflation

According to the Philips approach to accounting for inflation,

A) a gearing adjustment was used to reflect the extent to which the company benefits from financing the purchase of capital assets by long term debt rather than by equity.
B) net realizable value was used to value assets, but replacement values were not used.
C) target costs were used for inventory rather than standard costs.
D) physical assets were adjusted to current values, but there was no gain or loss from holding net financial assets.