The Cost of an Asset and Its Fair Value Are

question 242

Multiple Choice

The cost of an asset and its fair value are

• A) never the same.
• B) the same when the asset is sold.
• C) irrelevant when the asset is used by the business in its operations.
• D) the same on the date of acquisition.

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Definitions:

Obsessive-compulsive Disorders

Mental illnesses marked by an individual's engagement in repetitive thoughts and behaviors that are performed to alleviate anxiety or distress.

Anal Development

In psychoanalytic theory, a stage of early child development centered on the control of bowel movements, which can influence personality traits.

Compulsive Behaviors

Actions repeatedly performed by an individual, driven by an uncontrollable urge, often as a response to obsessive thoughts, leading to distress or impairment in functioning.

Cognitive-behavioral Theorists

Specialists in a psychological approach that focuses on changing maladaptive thoughts and behaviors to improve emotional regulation and develop personal coping strategies.