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A homebuilding contractors balance sheet lists several parcels of land valued at their original purchase costs several years ago. The contractor recently had a professional
A homebuilding contractors balance sheet lists several parcels of land valued at their original purchase costs several years ago. The contractor recently had a professional land value assessor estimate the current market value of their land parcels, and suggested to their accountant that their balance sheet should reflect these current (and higher) values for their assets. What is the accountants response or action likely to be?
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