The primary measurement basis currently used to value assets in external financial statements of an enterprise is the
a. current market price if the assets currently held by an enterprise were sold on the open market.
b. current market price if the assets held by an enterprise were purchased on the open market.
c. present value of the cash flows the assets are expected to generate over their remaining useful lives.
d. market price of the assets held by an enterprise at the date the assets were acquired (although some assets may be valued at their current selling price or net realizable value).
D
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What will be an ideal response?
Dali Designs purchased a new studio for $75,000. Dali paid $29,000 as a cash down-payment and signed a long-term mortgage payable for the remainder. How would this transaction be reflected on the Statement of Cash Flows under the indirect method?
A) A 29,000 outflow of cash in the investing section and a $46,000 outflow of cash in the financing section B) A $29,000 outflow of cash in the financing section C) A $75,000 outflow of cash in the financing section D) A $29,000 outflow of cash in the investing section
Each activity in a value chain adds cost and value to a product or service delivered to a customer
Indicate whether the statement is true or false