How is an entity required to measure goods or services received?
A) At the imputed rate of interest.
B) At fair value at the measurement date.
C) At cost.
D) At the negotiated price.

Question

Quizplus · Accepted Answer

Goods or services received should be measured at fair value at the measurement date. This approach provides a consistent and market-based valuation for transactions.

How Is an Entity Required to Measure Goods or Services