GAAP requires receivable to be recorded and reported at their present value, but excludes accounts receivables from this rule.

Name: GAAP requires receivable to be recorded and reported at their present value, but excludes accounts receivables from this rule.
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Question

Quizplus · Accepted Answer

Accounts receivable are typically recorded at their nominal value rather than present value due to their short-term nature, making the present value adjustment immaterial.

GAAP Requires Receivable to Be Recorded and Reported at Their