- CFA Exams
- CFA Exam: Level I 2021
- Study Session 8. Financial Reporting and Analysis (3)
- Reading 28. Non-current (Long-term) Liabilities
- Subject 5. Presentation and Disclosure of Long-Term Debt
CFA Practice Question
Disclosure of information under SFAS No. 107 regarding the market values of both financial assets and liabilities is required for ______.
B. financial instruments with off-balance-sheet market risk only
C. financial instruments with off-balance-sheet risk of accounting losses only
D. all financial instruments
A. financial instruments that involve debt-to-equity swaps only
B. financial instruments with off-balance-sheet market risk only
C. financial instruments with off-balance-sheet risk of accounting losses only
D. all financial instruments
Correct Answer: D
SFAS No. 107 requires disclosures of market values for all assets deemed to be financial instruments.
User Contributed Comments 2
| User | Comment |
|---|---|
| jooey | SFAS = The Statement of Financial Accounting Standards |
| Apoorv34 | Thanks. |