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4. Which of the following statements is most accurate in describing the measurement of assets and liabilities? a. Whenever possible, fair values of assets should
4. Which of the following statements is most accurate in describing the measurement of assets and liabilities? a. Whenever possible, fair values of assets should be used. b. Assets should generally be stated at historical cost and liabilities at present value. c. A company is permitted to use a number of different methods to calculate asset and liability values.
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