The two most common valuation measures used in Accounting Standards are:
A) Fair value less costs to sell and carrying amount.
B) Net realisable value and fair value.
C) Value in use and net realisable value.
D) Cost and fair value.

Question

Quizplus · Accepted Answer

Cost and fair value are the two most common valuation measures used in accounting standards for measuring and reporting the value of assets and liabilities.

The Two Most Common Valuation Measures Used in Accounting Standards