Asked by Johnny Gomez on Apr 27, 2024
Verified
Which of the following is being applied when,under certain conditions,the value recorded for an asset is adjusted to a different amount?
A) Comparability
B) Timeliness
C) Mixed-attribute
D) Understandability
Mixed-Attribute
A term not widely recognized as a standard financial or accounting term and requires further context for accurate definition. NO.
Asset
Resources owned by a business which have economic value and can be used to meet liabilities.
- Discover and contrast the leading classifications of financial statements.
Verified Answer
LP
Leywes PierreApr 28, 2024
Final Answer :
C
Explanation :
This is an example of mixed-attribute accounting, where different accounting methods are used to measure different types of assets or liabilities. This may include adjusting the value of an asset due to changing market conditions, changes in value over time, or changes in the intended use of the asset.
Learning Objectives
- Discover and contrast the leading classifications of financial statements.
Related questions
Which of the Following Assumptions Implies That a Business Can ...
Where Would Changes in Stockholders' Equity Resulting from Financing Provided ...
Which of the Following Events Will Cause Retained Earnings to ...
Which of the Following WouldnotBe Included Under ...
Which of the Following Describes the Primary Objective of Financial ...