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:

Reliant

Depending on someone or something for support, assistance, or supply.

Declarative Memory

The aspect of human memory that stores facts and events, making it possible for individuals to consciously recall and articulate their knowledge.

Episodic Memory

A form of memory that deals with remembering distinct events, conditions, and personal experiences over a prolonged period.

Semantic Memory

A type of long-term memory involving the ability to remember meanings, concepts, facts, and general knowledge about the world.