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For Each Financial Statement Item Listed , Identify at Which

Question 101

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For each financial statement item listed , identify at which financial statement valuation the item should be reported

Premises:
Inventory
Plant and equipment (book value)
Land used for plant site
Current liabilities
Long-term notes receivable
Responses:
Present value
Fair market value
Original cost
Original cost less accumulated depreciation
Lower of cost or market

Correct Answer:

Inventory
Plant and equipment (book value)
Land used for plant site
Current liabilities
Long-term notes receivable
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