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Topic #2: Fair Value? Under traditional accounting methodology, historical cost is the accounting evaluation tool....

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Accounting

Topic #2: Fair Value?

Under traditional accounting methodology, historical cost is the accounting evaluation tool. However, when consolidations are implemented, the fair market value is used. Please consider the following questions:

  • Why is it important that consolidations prescribe to fair value?
  • When is the adjustment made?
  • How often is the adjustment recalculated?
  • How are the adjustments kept?
  • Respond per your Syllabus guidelines.

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