Which of the Following Statements Regarding the Value of Assets

question 22

Multiple Choice

Which of the following statements regarding the value of assets in the balance sheet is not correct?

• A)the value of assets in the balance sheet may be a mixture of values of historical cost and fair values
• B)some assets may be valued at historical cost
• C)some assets may be valued at fair value
• D)some assets reflect the amount that would be received if the assets were sold at the date of the statement