The cost to replace assets with similar assets in a similar condition is the definition of which of the following current value concepts?
A)Replacement cost
B) Selling price
C) Exit value
D) Discounted present value

Question

The cost to replace assets with similar assets in a similar condition is the definition of which of the following current value concepts? 
A)Replacement cost
B) Selling price
C) Exit value
D) Discounted present value

Quizplus · Accepted Answer

The definition given in the question aligns with the concept of replacement cost. This concept is used to determine the current value of an asset by considering the cost required to replace it with a similar asset in a similar condition at the present time.

The Cost to Replace Assets with Similar Assets in a Similar