Which of the following concepts is often given as justification not to value noncurrent operating assets at their current values?
A) The revenue principle
B) Verifiability
C) Relevance
D) Predictive value

Question

Quizplus · Accepted Answer

Verifiability is a key concept in accounting that supports not valuing noncurrent operating assets at their current values. It emphasizes the importance of being able to reliably confirm or verify the reported amounts. Current values can be more subjective and harder to verify compared to historical costs, which are based on actual transactions.

Which of the Following Concepts Is Often Given as Justification