The correct statement is:
A) Value-in-use is lower than value-in-exchange for most assets
B) The value of an asset is the lower of its value-in-use and its value-in-exchange
C) If value-in-use is higher than value-in-exchange the asset should be offered for sale
D) The value of an asset is the higher of its value-in-use and its value-in-exchange

Question

Quizplus · Accepted Answer

The correct statement is that the value of an asset is the higher of its value-in-use and its value-in-exchange. This means that the asset should be valued based on whichever measure provides the higher value.

The Correct Statement Is