AASB 141 States That Where No Active Market Exists Fair

question 61

Multiple Choice

AASB 141 states that where no active market exists fair value may be determined by:

• A) The most recent market transaction price, irrespective of any changes to economic conditions.
• B) Market prices for similar assets without adjustments to reflect differences.
• C) Sector benchmarks expressed in relevant units for that type of asset.
• D) Using net present values calculated at the current-market determined post-tax rate.
• E) None of the given answers.

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Definitions:

Stability

The state of being steady and firm, often referring to economic or social systems.

Sending Information

Sending information refers to the act of transmitting data, messages, or communications from one entity to another through various means such as verbal, written, or electronic channels.

Organization's Model

The conceptual framework that outlines the structure, operations, and strategy of an organization.

Dynamic Process

A process that involves continual change or movement, adapting over time in response to various factors.