Which of the following statements regarding measuring liabilities is incorrect?
A) The effects of non-performance risk must be taken into consideration in measuring the fair value of a liability.
B) Present value techniques may be very useful in the measurement of liabilities.
C) The effects of non-performance risk is not relevant to measuring the fair value of a liability.
D) The highest and best use does not apply in the measurement of the fair value of a liability.
Correct Answer:
Verified
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