Under GAAP/IFRS,a firm's assets are reported at:

Name: Under GAAP/IFRS,a firm's assets are reported at:
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Under GAAP/IFRS, a firm's assets are reported at cost, which includes all costs necessary to acquire the asset and make it ready for its intended use. This includes purchase price, taxes, and any other costs incurred in acquiring the asset. Reporting assets at market value, liquidation value, or intrinsic value is not allowed under GAAP/IFRS.

Under GAAP/IFRS,a Firm's Assets Are Reported At