MCQ-Day - 39 - Flashcards by Joe Rhodes | Brainscape

Q

Rule of thumb: Compare “floor” with “ceiling” and “replacement cost” (use middle amount)

Compare that middle amount with “cost”

A

Use the lower of the two

MCQ-00131

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Q

Ignore Replacement cost under

A

Lower of cost or NRV

MCQ-06042

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Q

NFP - exchange transaction

MCQ-01237

A

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