Asked by Giovanni Montano on May 27, 2024
Verified
Financial statements include assets listed at
A) all of these
B) their fair value
C) their historical cost
D) their market value
Historical Cost
The original purchase price or cost of acquiring an asset, not adjusted for inflation or market changes.
- Acquire knowledge on modifications and declarations regarding investments in financial statements.
Verified Answer
HS
hitesh sharmaMay 29, 2024
Final Answer :
A
Explanation :
Financial statements can include assets listed at their fair value, their historical cost, and their market value, depending on the accounting standards being applied (such as GAAP or IFRS) and the specific circumstances of the asset.
Learning Objectives
- Acquire knowledge on modifications and declarations regarding investments in financial statements.
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