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Which of the following statements concerning the valuation of assets on the balance sheet is correct? Group of answer choices Assets are valued in the

Which of the following statements concerning the valuation of assets on the balance sheet is correct?

Group of answer choices

Assets are valued in the balance sheet based on the previous years market value

None of the statements are correct

Assets are valued in the balance sheet using the current fair market value

Assets are valued in the balance sheet using the Original Cost at which they were bought

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