The dominant method under GAAP for measuring long-lived assets is the

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The historical cost approach is the dominant method under GAAP for measuring long-lived assets. This approach records the original cost of the asset as its value on the balance sheet, rather than adjusting for inflation or changes in the asset's value over time. This method is widely used because it is simple and objective, and provides a consistent basis for comparing the value of assets over time. Alternatively, the other methods mentioned, such as the discounted present value approach or replacement cost approach, may be used in certain situations but are not as commonly used as the historical cost approach.

The Dominant Method Under GAAP for Measuring Long-Lived Assets Is