The measurement of assets and liabilities on the balance sheet is frequently a secondary goal to income

Question:

The measurement of assets and liabilities on the is frequently a secondary goal to income determination. As a result, various measurement techniques are used to disclose assets and liabilities.
Required:
Discuss the various measurement techniques used on the to disclose assets and liabilities.
Balance Sheet
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...