Which of the following assets is typically accounted for at fair value?
A) Inventory
B) Marketable securities
C) Land used in the business
D) Patents owned

Question

Quizplus · Accepted Answer

Marketable securities are typically accounted for at fair value, as their value can easily be determined based on current market conditions. Inventory and land used in the business are typically accounted for at cost, and patents owned are typically accounted for at their original cost minus any accumulated amortization.

Which of the Following Assets Is Typically Accounted for at Fair