When including an asset such as a car on your balance sheet
A)list its current value as indicated in a blue book or site like www.edmunds.com.
B)list the original purchase price of the vehicle.
C)list the amount it would cost to purchase a new model of this vehicle.
D)none of the above.

Question

Quizplus · Accepted Answer

The current value of the car as indicated in a blue book or a reputable website like www.edmunds.com is the most accurate representation of the car's worth. The original purchase price and the cost of a new model do not reflect the actual value of the asset at the present time.

When Including an Asset Such as a Car on Your