From an accounting standard setter's perspective, (1) why do accounting standards define the recoverable amount as a
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From an accounting standard setter's perspective,
(1) why do accounting standards define the recoverable amount as a higher amount of the net selling price and the value in use, but not the lower of these two measurement models?
(2) why do firms need to identify both net selling price and the value in use to determine the recoverable amount, rather than just use one of them?
Expert Answer:
NRV is a common method used to evaluate an assets value for inventory accounting Two of the largest ... View the full answer
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