Which of the following steps is not relevant when measuring liabilities?
A) The particular liability that is the subject of the measurement.
B) The principal (or most advantageous) market for the liability.
C) The valuation premise that is appropriate for the measurement.
D) The valuation technique(s) appropriate for the measurement.

Question

Quizplus · Accepted Answer

The valuation premise is typically relevant for measuring assets, not liabilities. Liabilities are measured based on the principal market and appropriate valuation techniques.

Which of the Following Steps Is Not Relevant When Measuring