Non-financial assets use the concept of highest and best use in measuring fair value.

Name: Non-financial assets use the concept of highest and best use in measuring fair value.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The concept of highest and best use is relevant in the measurement of fair value for non-financial assets, as it considers the use of the asset that maximizes its value, whether through its current use or by alternative uses.

Non-Financial Assets Use the Concept of Highest and Best Use