On which type of transaction is the measurement of fair value based?
A) Hypothetical
B) Actual
C) Anticipated
D) Standard

Name: On which type of transaction is the measurement of fair value based? A) Hypothetical B) Actual C) Anticipated D) Standard
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Fair value measurement is based on a hypothetical transaction at the measurement date, considering the asset or liability's highest and best use from a market participant's perspective, not on actual, anticipated, or standard transactions.

On Which Type of Transaction Is the Measurement of Fair