Appendix a of AASB 13 Fair Value Measurement Defines Fair

Multiple Choice

Appendix A of AASB 13 Fair Value Measurement defines fair value as:

A) The amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm's length transaction.
B) The price that would be paid to purchase an asset or transfer a liability.
C) A transaction that assumes exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities; it is not a forced transaction (e.g. a forced liquidation or distress sale) .
D) The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.