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Which statement is true of determining the value of your operating assets? Multiple Choice Custom-made assets cannot be accurately priced. The disadvantage of disposal value

Which statement is true of determining the value of your operating assets? Multiple Choice


Custom-made assets cannot be accurately priced. 


The disadvantage of disposal value is that a new asset is often much greater than the price of an identical asset already in your business.


Laws, regulations, and GAAP requirements require that fair market value be used for financial reporting and income tax purposes. 


Fair market value lies somewhere between disposal value and replacement value

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