Assets are usually reported in the balance sheet at:
A) liquidation value.
B) value in use.
C) current market value.
D) historical cost.

Question

Quizplus · Accepted Answer

Assets are usually reported in the balance sheet at their historical cost or book value. Historical cost refers to the actual price paid or cost incurred to acquire or produce the asset, and includes all costs necessary to get the asset ready for use. This is the most commonly used valuation method for asset reporting.

Assets Are Usually Reported in the Balance Sheet At