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historical cost

the amount originally paid for the asset.

amortized cost

historical cost adjusted for depreciation, amortization, depletion, and impairment

current cost

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.

present value

the discounted value of the asset’s expected future cash flows.

fair value

the price at which an asset could be sold, or a liability transferred, in an orderly transaction between willing parties .

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