Which of the following possible measurement bases listed by the IASB in the most prevalent?

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Historical cost is the most prevalent measurement base used in financial reporting, as it is the easiest to apply and provides a reliable, objective measure of the value of assets and liabilities at the time they are acquired or incurred. While other bases such as present value, exit value, and replacement cost may be used in certain circumstances, the majority of financial statements are prepared using historical cost as a basis.

Which of the Following Possible Measurement Bases Listed by the IASB