Representation of assets - Accounts Representaion by ClassOf1


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									              Sub: Accounts                            Topic: Representaion of Assests at Costs/FMV

               Representation of assets at FMV is it Right
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              Generally accepted accounting principles require that most assets be listed on the balance
              sheet at their historical cost (less any depreciation or amortization, of course). An alternative
              would be to list assets at their fair market value. Discuss the policy tradeoffs involved in
              deciding whether to use historical cost or fai
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