Advantages of using historical cost as the basis of valuation of property, plant, and equipment include all of the following except
A) it is representationally faithful.
B) gains and losses from holding the asset are recognized in the period of value change.
C) cost equals the fair market value at the date of acquisition.
D) it is consistent with the valuation of many other assets and liabilities.
B
You might also like to view...
What are two ways to gain visibility as a skilled project manager?
Fill in the blank(s) with the appropriate word(s).
What is the impact of values based codes of behavior on the employees of an organization?
What will be an ideal response?
What is the 3-month moving average forecast for January?
Given the following data on hotel check-ins for a 6-month period: July: 70 rooms August: 105 rooms September: 90 rooms October: 120 rooms November: 110 rooms December: 115 rooms
Huang Company reported the following information for the current year: Sales$810,000? Average operating assets$510,000? Margin 9?%The company's return on investment was: (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
A. 15.88%. B. 9.00%. C. Cannot be ascertained from the information provided. D. 14.29%.