Once an Entity Elects to Value a Class of Assets

question 4

True/False

Once an entity elects to value a class of assets using fair value it can switch back to cost basis measurement as long as there is justifiable reason.

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Definitions:

Exclusive Mode

A mode of operation in software applications that restricts access to the resource to only one user or process at a time.

Open Dialog Box

A common dialog box that enables users to select files or directories to be opened by a program.

Access Options

Various settings or methods available within a software or database system to customize or control accessibility.

LastName Field

A database field specifically designated for storing the last name of individuals, common in systems managing personal information.