Accounting for IGCSE & O level - Final Statements (Section 11 - No. 41)
What is the general rule for valuing assets in the Statement of Financial Position?
Always at market value.
Always at historical cost.
At cost less accumulated depreciation.
At a value that is fair and reliable.
คำอธิบาย
Assets should be valued in a way that provides a fair and reliable representation of their economic substance.