Professional Documents
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The Net Realizable Value Approach Is Used To Account For Scrap and by
The Net Realizable Value Approach Is Used To Account For Scrap and by
value is
insignificant.
23. Under the realized value approach, no value is recognized for by-products or scrap until they are actually
sold.
24. Under the net realizable value approach, no value is recognized for by-products or scrap until they are
actually sold.
25. Not-for-profit entities are required to allocate joint costs among fund-raising, program, and administrative
functions.