The Framework specifies that liabilities should be measured at:
A) historical cost
B) current replacement cost
C) current cash equivalent
D) The Framework does not specify how liabilities should be measured

Question

Quizplus · Accepted Answer

The Framework for the Preparation and Presentation of Financial Statements does not specify a single method for measuring liabilities, as it provides general principles rather than detailed rules.

The Framework Specifies That Liabilities Should Be Measured At