Which of the Following Is Not an Important Aspect of SFAS

Multiple Choice

Which of the following is not an important aspect of SFAS No. 157 (FASB ASC 820) ?

A) A new definition of fair value.
B) A requirement that all assets and liabilities are to be measured at their fair value.
C) A fair value hierarchy used to classify the source of information used in fair value measurements (for example, market based or nonmarket based) .
D) New disclosures of assets and liabilities measured at fair value based on their level in the hierarchy.