Financial Reporting Standards quiz
the amount originally paid for the asset.
historical cost adjusted for depreciation, amortization, depletion, and impairment
the amount the firm would have to pay today for the same asset.
net realizable value
the estimated selling price of the asset in the normal course of business minus the selling costs.
the discounted value of the asset’s expected future cash flows.
the price at which an asset could be sold, or a liability transferred, in an orderly transaction between willing parties .