Fixed assets are ordinarily presented on the balance sheet
A)at current market values
B)at cost less accumulated depreciation
C)at replacement costs
D)in a separate section along with intangible assets

Question

Quizplus · Accepted Answer

Fixed assets are typically presented on the balance sheet at cost less accumulated depreciation, as this reflects the historical value of the asset and the amount that has been expensed over time due to use and wear and tear. Presenting them at current market values or replacement costs would not accurately reflect the true value of the asset or the company's investment in it. Fixed assets are usually separated from intangible assets, but not necessarily presented in a separate section.

Fixed Assets Are Ordinarily Presented on the Balance Sheet