[Solved] Fixed assets are valued at

Fixed assets are valued at

a) Cost

b) Market price

c) Cost price or market price whichever is less

d) Cost less depreciation

Answer: (d) Fixed assets are valued at cost less depreciation. Fixed assets are shown in the Balance sheet at cost less depreciation. Depreciation is apportioning the cost of the asset by writing it off over the life of the asset. It is also used to record the decline in the value of asset due to passage of time, wear and tear etc.

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