Assets on the Balance Sheet may be valued at:
A)Historical cost
B)Current cost
C)Net realisable value
D)Any of the above

Question

Quizplus · Accepted Answer

Assets on the Balance Sheet may be valued at historical cost, current cost or net realisable value, depending on the accounting policy of the company. The choice of valuation method may depend on a number of factors including the type of asset, industry norms, regulatory requirements, and management's judgement. Each method has its pros and cons, and the choice of method may have a significant impact on the reported financial results of the company. Therefore, the best choice is to use any of the above methods depending on the circumstances.

Assets on the Balance Sheet May Be Valued At