- CFA Exams
- CFA Level I Exam
- Topic 3. Financial Statement Analysis
- Learning Module 17. Financial Reporting Standards
- Subject 3. The International Financial Reporting Standards Framework
CFA Practice Question
______ is the amount at which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm's length transaction, which may involve either market measures or present-value measures.
A. Current cost
B. Settlement value
C. Fair value
User Contributed Comments 2
| User | Comment |
|---|---|
| NOBAN | DEFINITION OF WHAT FAIR VALUE IS |
| hon132 | See question above. Fair value = fair market value, what two unrelated parties considers fair for an asset. |