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Question 8 / 12 According to GAAP, which method should be used to record the acquisition of a fixed asset? Last in, first out (LIFO)

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Question 8 / 12 According to GAAP, which method should be used to record the acquisition of a fixed asset? Last in, first out (LIFO) o Fair market value Historical cost O First in, first out (FIFO) Weighted average cost

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