According to Generally Accepted Accounting Principles, a Company's Balance Sheet

question 13

Multiple Choice

According to generally accepted accounting principles, a company's balance sheet should show the company's assets at

• A) the cash equivalent value of what was given up or the asset received, whichever is more clearly evident
• B) the market value of the asset received in all cases
• C) the cash outlay only, even if part of the consideration given was something other than cash
• D) the best estimate of a certified internal auditor
• E) current replacement cost