Which Are the Two Most Common Measures Used in Accounting

question 27

Multiple Choice

Which are the two most common measures used in Accounting Standards?

• A) fair value less costs to sell and cost
• B) value in use and cost
• C) cost and fair value
• D) net realisable value and fair value.

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Definitions:

Decisions

The act or process of choosing a course of action from among various alternatives.

Electrolux AB

A leading global appliance company that manufactures and sells household and professional appliances under various brand names.

Plant Manager

An individual responsible for overseeing the daily operations of manufacturing plants and factories.

Profit

The financial gain obtained when the amount earned from a business activity exceeds the expenses, costs, and taxes needed to sustain it.