QUESTION 57 Historical cost principle does not apply to long term assets (PPE) held for disposal, the companies should report them at the lower of cost or net realizable value True O False
QUESTION 57 Historical cost principle does not apply to long term assets (PPE) held for disposal, the companies should report them at the lower of cost or net realizable value True O False
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:QUESTION 57
lave $5,000 in the investing section.
Historical cost principle does not apply to long term assets (PPE) held for disposal, the companies should report them at the lower of cost or net realizable value.
True
False
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