Assets are usually reported in the balance sheet at:
A) liquidation value.
B) value in use.
C) current or market value.
D) historical cost.

Question

Quizplus · Accepted Answer

Assets are usually reported in the balance sheet at historical cost, which is the original cost of acquiring the asset, including any related expenses. This method provides a reliable and objective measure of the value of the asset, as it is based on actual transactions and not subject to fluctuations in the market or changes in management estimates. While assets may appreciate or depreciate over time, their historical cost is typically used for accounting purposes.

Assets Are Usually Reported in the Balance Sheet At