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Which of the following statements regarding the value of assets in the balance sheet is correct? The value of assets will most likely be a

Which of the following statements regarding the value of assets in the balance sheet is correct?

The value of assets will most likely be a mixture of values of historical cost and fair values.

All assets will be valued at historical cost.

All assets will be valued at fair value.

All assets will reflect the amount that would be received if the assets were sold at the date of the statement.

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