Question: The fair value of an asset should be based upon a. The replacement cost of an asset. b. The price that would be received to

The fair value of an asset should be based upon

a. The replacement cost of an asset.

b. The price that would be received to sell the asset at the measurement date.

c. The original cost of the asset plus an adjustment for obsolescence.

d. The price that would be paid to acquire the asset.

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