Long-lived assets held by public universities are carried at cost, or fair value if donated.

Name: Long-lived assets held by public universities are carried at cost, or fair value if donated.
Brand: Quizplus
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Quizplus · Accepted Answer

Public universities typically follow the cost model of accounting for long-lived assets, where the assets are initially recorded at cost and then depreciated over time. However, if an asset is donated, it may be recorded at fair value at the time of donation.

Long-Lived Assets Held by Public Universities Are Carried at Cost