John Dominic acquired his business for P19,000,000. The fair market value of the business is P20,000,000. Will it be more useful if accounting records were adjusted corresponding to the fair market value amount of the business is P20,000,000.
It will be very fair for the accounting details to be adjusted so as to correspond that one which is fair for the market value so as to enable Mr. Pierre track the financial growth of his business
