_____ Fires Are Electrical Fires

question 70

Multiple Choice

_____ fires are electrical fires.

• A) Class A
• B) Class B
• C) Class C
• D) Class D

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Definitions:

Revaluation Model

An accounting method for periodically adjusting an asset's value on the balance sheet to reflect its current market value.

Fair Values

The estimated market value of an asset or liability based on current transactions between willing parties.

Gain or Loss

The financial result that occurs when the selling price of an asset differs from its purchase price, either positive (gain) or negative (loss).

Goodwill

An intangible asset that represents the excess value paid for a company over its net identifiable assets, often arising from brand, reputation, or customer relationships.