Which board(s) has(have) worked to implement fair value measurement for financial instruments?
A) FASB but not IASB.
B) IASB but not FASB.
C) both FASB and IASB.
D) neither FASB nor IASB.

Question

Quizplus · Accepted Answer

Both FASB and IASB have worked to implement fair value measurement for financial instruments. FASB released Accounting Standards Codification (ASC) Topic 820, Fair Value Measurement, and IASB released International Financial Reporting Standard (IFRS) 13, Fair Value Measurement, which are both used for fair value measurement of financial instruments.

Which Board(s) Has(have) Worked to Implement Fair Value Measurement for Financial