INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select
-An asset must have [market | monetary] value to be included on a balance sheet.
A)for the first item
B)for the second item
C)if neither item will correctly complete the statement.

Question

Quizplus · Accepted Answer

An asset must have monetary value to be included on a balance sheet. Market value is a factor that can determine the monetary value of an asset, but it is not a requirement for it to be included on a balance sheet.

INSTRUCTIONS: Choose the Word or Phrase in [ ] Which