Question

Although both ______ and _______ are increasing the use of _____ ________ to report assets at this point _______ has adopted it more broadly.

Answer 1

The question pertains to financial reporting practices, specifically the use of fair value accounting for asset valuation. Without more context, the specific entities or standards cannot be identified, though IFRS is known for broader adoption of fair value accounting compared to GAAP in the U.S.

Step-by-step explanation:

The question appears to be discussing financial reporting practices specific to asset valuation by organizations or countries. Unfortunately, without the blanks being filled in, we cannot provide the specific entities involved or the particular practice being referred to. Generally, entities use fair value accounting to report the value of their assets, which reflects the current market value instead of historical cost. Different regions or organizations adopt fair value accounting to varying extents, with International Financial Reporting Standards (IFRS) generally favoring fair value more than Generally Accepted Accounting Principles (GAAP) in the United States. The adoption of fair value has implications for the transparency and comparability of financial statements.