The values or accounting numbers that are reported on the balance sheet are the same as the market values of the assets.

Name: The values or accounting numbers that are reported on the balance sheet are the same as the market values of the assets.
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Question

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The values reported on the balance sheet may not necessarily reflect the market values of the assets. The values reported are often based on historical cost or other accounting standards rather than current market values.

The Values or Accounting Numbers That Are Reported on the Balance