A primary objective of accounting is to provide the fair market value of assets on the statement of financial position..

Name: A primary objective of accounting is to provide the fair market value of assets on the statement of financial position..
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Quizplus · Accepted Answer

The primary objective of accounting is to provide financial information that is useful for decision-making, not specifically to provide fair market values. Assets are typically recorded at historical cost, not fair market value.

A Primary Objective of Accounting Is to Provide the Fair