The amount for which an asset could be exchanged, a liability settled , or an equity instrument could be exchanged between knowledgeable parties is known as _________ a. Fair value cost principle b. Historical cost principle c. Futuristic cost principle d. Replacement cost Principle
The amount for which an asset could be exchanged, a liability settled , or an equity instrument could be exchanged between knowledgeable parties is known as _________ a. Fair value cost principle b. Historical cost principle c. Futuristic cost principle d. Replacement cost Principle
Chapter10: Short-term Decision Making
Section: Chapter Questions
Problem 2MC: Which type of incurred costs are not relevant in decision-making (i.e., they have no bearing on...
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Question
The amount for which an asset could be exchanged, a liability settled , or an equity instrument could be exchanged between knowledgeable parties is known as _________
a.
Fair value cost principle
b.
Historical cost principle
c.
Futuristic cost principle
d.
Replacement cost Principle
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