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For Each Financial Statement Item Listed Below Identify the Financial

Question 103

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For each financial statement item listed below identify the financial statement valuation at which it should be reported.

Premises:
Cash
Short-term investments
Accounts receivable
Long-term liabilities
Office building
Responses:
Residual value
Present value
Original cost
Fair market value
Estimated sales price
Original cost less accumulated depreciation

Correct Answer:

Residual value
Present value
Original cost
Fair market value
Estimated sales price
Original cost less accumulated depreciation
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