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Which quality of an asset makes it more appropriate for the fair value principle rather than the historical cost principle? The asset never undergoes depreciation,
Which quality of an asset makes it more appropriate for the fair value principle rather than the historical cost principle? The asset never undergoes depreciation, but the seller reports a gain or loss upon sale of the asset. The market price of the asset is readily available and reliable. The value of the asset depends on the specific agreement between the buyer and seller. The asset undergoes depreciation over time
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