When an Asset Is Shown on the Financial Report Other

question 36

Multiple Choice

When an asset is shown on the financial report other than at cost, which of the following is not required to be disclosed?

• A) the evidence gathered to support the valuation.
• B) the year and basis of valuation.
• C) whether it is an internal or independent valuation.
• D) the name of the valuer.

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Definitions:

Foreign Markets

Markets outside the domestic boundaries of a company's home country where it conducts business activities.

Domestically Produced

Goods or services that are manufactured, grown, or created within a country's borders, as opposed to imported from other countries.

Performance Management

The process through which managers ensure that employees' activities and outputs contribute to the organization's goals.

Specific Methods

Precise or particular techniques or strategies used to accomplish a task or achieve a goal.