USGAAP and IFRS Require Firms to Disclose the Fair Value

Multiple Choice

U.S.GAAP and IFRS require firms to disclose the fair value of long-term notes and bonds in notes to the financial statements.Fair value is

A) the amount the firm would pay to settle the debt on the date of the balance sheet.
B) the current market price in the case of items that trade in active markets.
C) the present value of the contractual cash flows discounted at a current market interest rate that reflects all the factors that market participants would consider, including the item's credit risk.
D) all of the above
E) none of the above