(CMA adapted, Dec 94 #5) Several alternatives have been identified for measuring items on the statement of financial position.Which of the following alternatives may be used?
$\text { Present Value\quad Current Cost \quad Net Realizable Value }$
A)$\text { No } \quad \text { No } \quad \text { No }$
B)$\text { No } \quad \text { Yes } \quad \text { Yes }$
C)$\begin{array}{lll}
\text { Yes } & \text { Yes } & \text { No }
\end{array}$
D)$\text { Yes } \quad \text { Yes } \quad \text { Yes }$
E)$\begin{array}{lll}
\text { Yes } & \text { No } & \text { Yes }
\end{array}$

Question

Quizplus · Accepted Answer

Present Value, Current Cost, and Net Realizable Value are all acceptable measurement bases for items on the statement of financial position, depending on the context and applicable accounting standards.

(CMA Adapted, Dec 94 #5) Several Alternatives Have Been Identified Present ValueCurrent Cost Net Realizable Value \text { Present Value\quad Current Cost \quad Net Realizable Value } Present ValueCurrent Cost Net Realizable Value

(CMA Adapted, Dec 94 #5) Several Alternatives Have Been Identified $\text { Present Value\quad Current Cost \quad Net Realizable Value }$