AASB 13 Defines Exit Price As

question 3

Multiple Choice

AASB 13 defines exit price as:

• A) A transaction that assumes exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities; it is not a forced transaction (e.g. a forced liquidation or distress sale).
• B) The price that would be received to sell an asset or paid to transfer a liability.
• C) The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
• D) The amount for which an asset could be exchanged or a liability settled, between knowledgeable, willing parties in an arm's length transaction.

---

Definitions:

Environmental Regulation

Laws and rules that govern how individuals, companies, and governments interact with the natural environment to minimize harm and ensure sustainable development.

Property Rights

The legal rights to own, use, and dispose of assets, land, or property.

Economic Outcomes

The results or consequences of economic activities, which can affect wealth, resource distribution, and overall economic health.

Property Rights

Legal rights that determine the ownership and use of land, capital, and other forms of property.