What is the name given to the higher of an asset's fair value less costs to sell, and its value in use?

Name: What is the name given to the higher of an asset's fair value less costs to sell, and its value in use?
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Quizplus · Accepted Answer

The higher of an asset's fair value less costs to sell, and its value in use is known as the recoverable amount. This is the amount that the asset can be sold for or the value that it will provide to the company in the future, whichever is higher.

What Is the Name Given to the Higher of an Asset's