Q279
In balance sheet, fixed assets are shown at
A.
Cost price
B.
Market value
C.
Fair value
D.
Written Down Value (WDV)
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
In balance sheet, fixed assets are shown at Written Down Value (WDV). If the asset is not impaired and the company operates under GAAP, then the cost model must be used.