If an asset has a readily available and reliable market price, which measurement principle is most appropriate for recording the value of that asset?.

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27-01-2022
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If an asset has a readily available and reliable market price, which measurement principle is most appropriate for recording the value of that asset?.

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jayilych4real jayilych4real · Answer 1 · 2022-02-04T10:57:19+01:00

The measurement principle which is the most appropriate for the recording of value for a readily available asset is an asset valued by the fair value principle.

What is Market Price?

This refers to the current value for which a particular good is at for sale in a market system which can be determined by different factors.

With this in mind, we can see that for a readily available asset, then the measurement principle used for it is the fair value principle.

Read more about market price here:
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