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:

Basic Types

Fundamental categories or classes into which subjects, objects, or concepts are divided.

Special

Distinguished by a unique or specific quality, purpose, or condition; often implies an exceptional or extraordinary aspect.

Allocated

Pertains to the process of distributing resources or duties for a specific purpose or to particular persons or entities.

Power of Attorney

A legal document that grants one person the authority to act on behalf of another person in legal or financial matters.