Final answer:
Current cost accounting considers replacement cost of assets. The book value of equipment does not necessarily equal replacement value. Dividends and income are adjusted for inflation.
Step-by-step explanation:
Current cost accounting is a method of accounting that considers the replacement cost of assets rather than their historical cost. In this method, the book value of equipment may not necessarily be near the replacement value, as it depends on the specific circumstances and accounting practices of a company. Therefore, option (a) is not necessarily true. The book value of common stock is based on historical cost and does not necessarily equal market value, so option (b) is also not necessarily true. Dividends and income are usually adjusted for inflation in current cost accounting, so option (c) is true. This means that option (d) is not correct, as not all of the choices are true in current cost accounting.