Homework Answers
Option D Is correct.
Basically Assets are recorded at historical cost approach. Under approach assets recorded at puchase price of asset . It is basic accounting accounting feature under laid out GAAP.
Historical helps in prevent the over or under valuation of assets in balance sheet.
If assets are recorded at market value.it will change from year to year and it will not show the correct profit.
So that historical approch is basic approach of record the assets at cost.
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Question 16 ownership in the investee's voting stock can significantly influence the investee's decisions wa Oь ec Od 15 percent to 20 percent 10 percent 5 percent to 10 percent 20 percent to 50 percent Question 17 Which of the following is true of trading investments? b OC They must be adjusted and reported at fair value at the end of each accounting period They are always reported on the balance sheet at their historical cost. They are held for...
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me foreign exchange market is the market in which one currency is exchanged for another, Which of the following is true if the dollar becomes weaker on the foreign exchange market—that is, the value of the dollar falls relative to the value of foreign currency? OA. U.S. citizens will import more goods and services from abroad OB. A BMW automobile produced in Germany will cost less to import into the United States, OC. A trip to Europe will be less...
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