Excerpts taken from the SEC Form 10-K of NIKE are reproduced in Appendix C. This chapter listed and defined four basic assumptions, four principles of measurement, and two exceptions.
Review the NIKE Form 10-K and find at least one example of each of the ten concepts. Indicate the accounts on NIKE’s balance sheet
that use present value as a valuation base. Also indicate the accounts on NIKE’s balance sheet
that use fair market value as a valuation base.
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...