The Measurement Principle That Says Assets Are Reported at the Price

question 78

Multiple Choice

The measurement principle that says assets are reported at the price that would be received if the item were sold is called

• A) current value.
• B) historical cost.
• C) materiality.
• D) going concern.

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Definitions:

Seminary

An institution for religious training, often for priests, ministers, or rabbis.

Organic Product

Refers to substances made from carbon-based compounds, typically resulting from the chemical reactions involving living organisms or their byproducts.

Behavioral Techniques

Strategies used in psychological treatment to modify an individual's behavior, often through reinforcement or conditioning.

Encourage

To give support, confidence, or hope to someone, usually through words or actions that boost their willingness or ability to continue or undertake a task or overcome a challenge.