The Measurement of Fair Value Is Determined in Accordance with AASB

question 16

Multiple Choice

The measurement of fair value is determined in accordance with AASB 13 Fair Value Measurement. AASB 13 defines fair value as one that has all of the following conditions: $$\begin{array} { | l | l | l | l | l | } \hline & \text { I } & \text { II } & \text { III } & \text { IV } \\\hline \begin{array} { l } \text { The price that would be received to sell arI asset or paid to } \\\text { traresfe a liability }\end{array} & \text { Yes } & \text { Yes } & \text { No } & \text { Yes } \\\hline \text { Is arl orderly trarsaction between market participarts } & \text { No } & \text { Yes } & \text { No } & \text { Yes } \\\hline \text { Based or the measurement date. } & \text { Yes } & \text { Yes } & \text { Yes } & \text { No } \\\hline\end{array}$$

• A) I.
• B) II.
• C) III.
• D) IV.

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Definitions:

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