Under U.S. GAAP, which of the following is not an acceptable way to report plant assets? a with detailed informati...
Under U.S. GAAP, which of the following is not an acceptable way to report plant assets?
|
a |
with detailed information on the face of the balance sheet |
|
b |
as a single amount, with a note to the financial statements that provides detailed information |
|
c |
at fair market value |
|
d |
at book value |
Homework Answers
OPTION C: At fair market value
EXPLANATION:
Plant assets are not reported at fair market value as per US GAAP.
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