Excerpts taken from the SEC Form 10-K of Google are reproduced online at www.wiley.com/college/pratt. This chapter listed and defined four basic assumptions, four principles of measurement, and two exceptions.
Review the Google Form 10-K, and find at least one example of each of the ten concepts. Indicate the accounts on Google’s balance sheet that use present value as a valuation base. Also indicate the accounts on Google’s balance sheet that use fair market value as a valuation base.