When an asset is shown on the financial report other than at cost, which of the following is not required to be disclosed?
A) the evidence gathered to support the valuation.
B) the year and basis of valuation.
C) whether it is an internal or independent valuation.
D) the name of the valuer.

Question

Quizplus · Accepted Answer

The evidence gathered to support the valuation is typically not required to be disclosed in financial reports when an asset is shown at a value other than cost. The focus is usually on the basis, date, and source of the valuation.

When an Asset Is Shown on the Financial Report Other