Which of the following is not a component of fair market value?
A) Closely related parties
B) Open and unrestricted market
C) Knowledgeable, informed, and prudent parties
D) Neither party under any compulsion to transact

Question

Quizplus · Accepted Answer

Fair market value assumes a transaction between knowledgeable, informed, and prudent parties, in an open and unrestricted market, with neither party under any compulsion to transact. Closely related parties are not a component of fair market value because their relationship might influence the transaction terms, deviating from an objective market value.

Which of the Following Is Not a Component of Fair