Which of the Following Measurement Methods Is Not Explicitly Recognised

question 22

Multiple Choice

Which of the following measurement methods is not explicitly recognised in the IASB Conceptual Framework,although it is recognised in the FASB Framework?

• A) Current market value
• B) Current replacement cost
• C) Net realisable value
• D) Present value

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Definitions:

Cohesion

The action or property of molecules of the same substance sticking together, playing a critical role in the movement of water in plants.

Adhesion

Adhesion refers to the process or condition in which different substances or surfaces stick together, often involving proteins that bind cells to each other or to extracellular matrices.

Capillary Action

The ability of a liquid to flow in narrow spaces without the assistance of or even against external forces like gravity.

Hydrogen Bond

A weak attractive force existing between a hydrogen atom with a partial positive charge and an electronegative atom (usually oxygen or nitrogen) with a partial negative charge. Compare with covalent bond and ionic bond.