Under the Accounting Standards, Which Alternative Measure of Value Is

question 52

Multiple Choice

Under the accounting standards, which alternative measure of value is not permitted to be used for valuing assets?

• A)Historical cost.
• B)Net realisable value.
• C)Fair value.
• D)None of the above. i.e., all are permitted methods in some circumstances.

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Definitions:

Social Exchange Theory

A conceptual framework suggesting that social behavior is the result of an exchange process aiming to maximize benefits and minimize costs in relationships.

Therapeutic Community

A structured, treatment-based environment where individuals support each other in recovering from addiction or mental health issues through community living and shared experiences.

Alcohol Abuse

The excessive and harmful consumption of alcohol, leading to negative impacts on an individual's health, social relationships, and responsibilities.

Drug Abuse

The compulsive and harmful use of drugs for non-medical purposes, leading to addiction and other negative outcomes.