AASB 13 Fair Value Measurement Defines Fair Value As

Multiple Choice

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 received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
C) the price that would be received to sell an asset or paid to transfer a liability.
D) 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) .