U.S. GAAP explicitly defines _____ of an asset as "the price that would be received to sell an asset [or paid to transfer a liability] in an orderly transaction between market participants at the measurement date.". Thus, U.S. GAAP defines it as an exit value, namely, the amount the firm would receive if it sold an asset in an orderly, arm's-length transaction at the measurement date
a. Current Replacement Cost
b. Net Realizable Value
c. Fair Value
d. Present Value of Future Net Cash Flows
e. Acquisition cost
C
You might also like to view...
Sociological jurisprudence maintains that:
A. courts should not consider their perceptions of the prevailing public policies in interpreting statutes. B. legal decisions should be based on short-term social goals. C. the law is the command of legitimate political institutions. D. courts must look beyond the plain meaning of a statute to consider the law's legislative purpose.
Presently, no regulatory agency, such as the Securities and Exchange Commission or the Financial Accounting Standards Board, accepts responsibility for determining either the content of financial ratios or the format of presentation in annual reports
Indicate whether the statement is true or false
For Schein, culture exists at three levels, level two: the non-visible organizational features such as norms, and beliefs, vision and mission, and policies, are called _____________.
a. Artifact b. Values c. Basic assumptions d. Climate
In the context of franchises, the termaccounts receivablerefers to money owed to a parent company by franchisees who bought its goods on credit.
Answer the following statement true (T) or false (F)