Identifying asset values for financial statements
Required
Indicate whether each of the following assets should be valued at fair market value (FMV), lower of cost or market (LCM), or historical cost (HC) on the balance sheet. For certain assets, historical cost may be called amortized cost (AC.)
Asset | FMV | LCM | HC/AC |
Supplies Land Trading securities Cash Held-to-maturity securities Buildings Available-for-sale securities Office equipment Inventory |
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