The use of estimates when measuring the fair values of assets results that the measures are unreliable.

Name: The use of estimates when measuring the fair values of assets results that the measures are unreliable.
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Quizplus · Accepted Answer

The use of estimates is a common and necessary practice in measuring the fair values of assets, especially when market values are not readily available. These estimates are based on the best information available and, when done correctly, provide a reliable measure of an asset's fair value.

The Use of Estimates When Measuring the Fair Values of Assets