Which of the Following Statements Is True of Replacement Cost

Which of the following statements is true of replacement cost approach?

A) Replacement cost is an income-based valuation approach.
B) This approach should include only tangible assets, whether they are actually included on the accounting balance sheet or not.
C) The replacement cost of a business is the cost of duplicating the assets of the business in their present form as of the valuation date.
D) The replacement cost valuation approach is generally used to value the whole of assets within a business when they are being insured.