Task Based Simulation $2-$ Concepts

$\backslash$table$[[$Concept$,$Answer,Choices$],[\backslash$table$[[1.$ The relevant attribute for plant assets and most inventories.$],[$It is the cash or equivalent actually paid for an asset and is$],[$ordinarily adjusted subsequently for amortization $($which$],[$includes depreciation$)$ or other allocations.$]],,\backslash$table$[[$A$)$ Current$],[$Market Value$]]],[\backslash$table$[[2.$ The relevant attributes for liabilities incurred to provide$],[$goods or services to customers. It is a cash or equivalent$],[$actually received when the obligation was created and may be$],[$subsequently amortized.$]],,\backslash$table$[[$B$)$ Net Realization$],[$Value$]]],[\backslash$table$[[3.$ Used to measure certain inventories and is the cash or the$],[$equivalent that would be paid for a current acquisition of the$],[$same or an equivalent asset.$]],,$C$)$ Historical Cost$],[\backslash$table$[[4.$ Used to measure some marketable securities e$.$g$.,$ those held$],[$by investment companies, or assets expected to be sold at$],[$below their carrying amount.$]],,\backslash$table$[[$D$)$ Historical$],[$Proceeds$]]],[\backslash$table$[[5.$ Used to measure short$-$term receivables and some$],[$inventories$.$ It is the cash or equivalent expected to be received$],[$for an asset in the due course of business, minus the costs of$],[$completion and sale.$]],,\backslash$table$[[$E$)$ Replacement$],[$Cost$]]],[\backslash$table$[[6.$ Used to measure items such as trade payables and warranty$],[$obligations$.$ It is the cash or equivalent equivalents that the$],[$entity expects to pay to satisfy the obligation in the due course$],[$of business.$]],,$F$)$ Present Value$],[\backslash$table$[[7.$ In the theory, the most relevant method of measurement$],[$because it incorporates time value of the money concepts. In$],[$practice$,$ it is currently used for only long$-$tern receivables and$],[$payables$.]],,\backslash$table$[[$G$)$ Net Settlement$],[$Value$]]]]$