A System of Ordering Data Is Called A(n)

question 56

Multiple Choice

A system of ordering data is called a(n) :

• A)arrangement
• B)taxonomy
• C)classification
• D)nomenclature

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Definitions:

Carrying Value

The book value of an asset or liability on the balance sheet, considering any depreciation, amortization, or impairment costs.

Face Value

The nominal value printed on a financial instrument like a bond or a stock certificate, representing its legal value.

Present Value

The current worth of a future sum of money or stream of cash flows given a specified rate of return, used in discounting and investment appraisal.

Fair Value

Fair value refers to the estimated market value of an asset or liability, based on current market conditions and comparable transactions, used in financial reporting.