Question: Answer the following multiple choice questions and explain why you selected the choice that you did. 1. According to GASB 52, real estate held as

Answer the following multiple choice questions and explain why you selected the choice that you did.

1. According to GASB 52, real estate held as an investment by a government endowment should be reported at

a. Fair value

b. Historical cost

c. Historical cost less accumulated depreciation

d. A nominal value

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