Which of the Following Defines Fair Value

Multiple Choice

Which of the following defines fair value?

A) The amount at which an asset could be bought or sold in a current transaction between willing parties.
B) The market value of an asset determined by a transaction between related parties.
C) The amount at which an asset could be sold in a transaction occurring within the last year.
D) The amount at which an asset could be bought or sold in a current transaction between any two parties.