What Is "Fair Value Less Costs to Sell

Multiple Choice

What is "fair value less costs to sell"?

A) The present value of the future cash flows expected to be derived from an asset.
B) The amount obtainable from the sale of an asset in an arm's-length transaction less the costs of disposal.
C) The higher of an asset's fair value less costs to sell and its value in use.
D) The amount obtainable from the sale of an asset in an arm's-length transaction between knowledgeable, willing parties.