Question

Which constraint would allow an entity to recognize a biological asset at fair value rather than...

  1. Which constraint would allow an entity to recognize a biological asset at fair value rather than its historical cost?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
​​​​​1)Briefly describe what is the fair value option. Is this option more useful than the historical...
​​​​​1)Briefly describe what is the fair value option. Is this option more useful than the historical cost for certain types of assets and liabilities? 2) As you mentioned " Fair value is useful than historical cost when it comes to assets whose value can appreciate over time."' and you are correct. But to add, what about the flip side. Lets keep in mind that fair value fluctuates... that asset that has a fair value of $3 M dollars this year...
n Where a liability is held as a corresponding asset by another entity, the fair value...
n Where a liability is held as a corresponding asset by another entity, the fair value of the liability is determined from the perspective of a market participant that: Group of answer choices applies a present value technique to measure the liability. applies the cost approach to valuing the liability. calculates the amount required to settle the present obligation. holds the identical item as an asset at measurement date.
An entity has an asset that was classified as held for sale. However, the criteria for...
An entity has an asset that was classified as held for sale. However, the criteria for it to remain as held for sale no longer apply. The entity should therefore; Select one: a. measure the noncurrent asset at the lower of its carrying amount before the asset was classified as held for sale (as adjusted for subsequent depreciation, amortization, or revaluations) and its recoverable amount at the date of the decision not to sell. b. remeasure the noncurrent asset at...
With respect to identifiable intangible assets other than goodwill, which of the following is true? Multiple...
With respect to identifiable intangible assets other than goodwill, which of the following is true? Multiple Choice If the value of the identified asset meets a de minimis exception, the entity may elect to treat it as goodwill. An identifiable intangible asset with an indefinite useful life must be assessed for impairment once every three years. If the average fair value of the asset is less than the average carrying amount of the asset with respect to, and determined for,...
The definition of fair value is "...the price that would be received to sell an asset...
The definition of fair value is "...the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date." The fair value hierarchy is as follows: Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities. Level 2 applies to assets or liabilities for which there are inputs other than quoted prices that are observable...
Describe one asset which is measured on the balance sheet at historical cost valuation. Describe one...
Describe one asset which is measured on the balance sheet at historical cost valuation. Describe one asset which is measured on the balance sheet at adjusted historical cost valuation. Describe one asset which is measured on the balance sheet at present value of future cash flow valuation. Describe one asset which is measured on the balance sheet at fair market value valuation. Describe one asset which is measured on the balance sheet at net realizable value valuation.
Hs $30000 partnership interest is terminated through a capatial asset distribution having a fair market value...
Hs $30000 partnership interest is terminated through a capatial asset distribution having a fair market value of $50000 ( partnership basis of $40000) cash of $10000. Assuming that an optional basis adjustment election is in effect which of the following statement is true? A Hs basis in the capital asset is $20000 B H does not recognize gain or loss and takes a $30000 basis C Hreconized a gain of $30000 D The partnership increases the basis of its remaining...
Seller’s stock basis in its subsidiary is $30 and the subsidiary has fair market value of...
Seller’s stock basis in its subsidiary is $30 and the subsidiary has fair market value of $45. The subsidiary has asset A whose basis is $25. Buyer would like to buy asset A; however, Seller prefers stock sale? Why?   How Buyer can induce Seller to sell asset A rather than stock? Specify the method and the amount of inducement, if any.
Why would a new corporation issue no-par stock with a stated value, rather than par-value stock?
Why would a new corporation issue no-par stock with a stated value, rather than par-value stock?
Valuing assets on financial statements at the amount of cash or other fair value paid for...
Valuing assets on financial statements at the amount of cash or other fair value paid for them at the time of the assets’ acquisition most closely describes which measurement of financial statement elements? Current cost. Historical cost. Net Realizable Value. Net Present Value. Which of the below listed accounting elements presented in financial statements is most closely related to a company’s annual performance? Current assets. Expenses. Liabilities. Owners’ Equity. A transaction where a company receives money from customers for products...