According to Generally Accepted Accounting Principles, a Company's Balance Sheetshould

Multiple Choice

According to generally accepted accounting principles, a company's balance sheetshould show the company's assets at:

A) Current replacement cost.
B) The cash equivalent value of what was given up or the asset received, whichever is more clearly evident.
C) The market value of the asset received in all cases.
D) The best estimate of a certified internal auditor.
E) The cash outlay only, even if part of the consideration given was something other than cash.