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Accountancy
If we have the asset of 8cr then why we are considering its fair value as the value of the asset ?
Answers (5)
Say you have a land at cost of 8 crores. Today the value is 10 crores in the market. When you give land and buy another asset - will you say you bought new asset at 8 crores or at 10 crores? Think of it - You can sell the land at 10 crores and get cash 10 crores.
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