Question: Answer Team 1 ROOM FOl DEBATE . Debate 9-2 Donated Assets Under current U.S. GAAP, assets that have been donated to a company are recorded

Answer Team 1 Answer Team 1 ROOM FOl DEBATE . Debate 9-2 Donated Assets Under

ROOM FOl DEBATE . Debate 9-2 Donated Assets Under current U.S. GAAP, assets that have been donated to a company are recorded at fair value. Team Debate: Team Argue that donated assets should not be reported in a company's balance sheet. Base your arguments on the conceptual framework. You might find the historical cost principle useful in your discussion

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