The FASB Has Suggested Guidelines for Developing Homogenous Classes of Assets

Multiple Choice

The FASB has suggested guidelines for developing homogenous classes of assets and liabilities.For assets, this can be accomplished by following guidelines that include

A) reporting assets according to their use outside the activities of the corporation
B) reporting all assets the same regardless of the implications on a company's financial flexibility
C) reporting the valuation of assets at their net realizable value
D) reporting assets at their fair value