How is the fair market value of an asset determ... - SS2 Accounting Revaluation of Assets Question
How is the fair market value of an asset determined for revaluation purposes?
A
By analyzing the asset's historical cost
B
By estimating the value of the asset based on industry averages
C
By engaging a professional valuer to determine the asset's current market value
D
By depreciating the asset over time
correct option: c
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