A company can choose the fair value option for reporting some assets, while choosing to report other assets at cost.

Name: A company can choose the fair value option for reporting some assets, while choosing to report other assets at cost.
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Question

Quizplus · Accepted Answer

Companies can elect the fair value option for certain financial assets and liabilities, allowing them to report some at fair value and others at historical cost, as per accounting standards like US GAAP.

A Company Can Choose the Fair Value Option for Reporting