Which of the following is NOT part of the old definition of fair value?
A. The amount an asset could be exchanged for
B. The amount a liability could be settled for
C. An arms-length transaction
D. At measurement date
Answer:D
Which of the following is NOT part of the old definition of fair value?
A. The amount an asset could be exchanged for B. The amount a liability could be settled for C. An arms-length transaction D. At measurement date