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3 years ago

Land and other real estate held as investments by endowments in a government's permanent fund should be reported at

Business

1 answer:

VashaNatasha [74]3 years ago

5 0

Complete Question:

Land and other real estate held as investments by endowments in a government’s permanent fund should be reported at

Group of answer choices

A. Historical cost.

B. Fair value less costs of disposal.

C. Fair value.

D. The lower of cost and net realizable value.

Answer:

C. Fair value.

Explanation:

Land and other real estate held as investments by endowments in a government's permanent fund should be reported at fair value of the reporting date except for the exception of life insurance contract, external investment pool, money market investment etc.

The fair value can be defined as the actual or real value of an asset, security, product or item in financial accounting.

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Mountain High Ice Cream Company transferred $68,000 of accounts receivable to the Prudential Bank. The transfer was made with re

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Entries are given below

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Calculations

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3 years ago

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