GASB Statement No.52 requires endowments with investment real estate to report those assets at:

Question

Quizplus · Accepted Answer

GASB Statement No. 52 requires endowments with investment real estate to report those assets at fair market value. This is based on the rationale that fair value measurement provides more relevant and reliable information to users of financial statements. Reporting at fair market value allows endowments to better reflect changes in value over time and provide more accurate financial reporting.