Fair Value Is Defined in the Accounting Standards As

question 38

Multiple Choice

Fair value is defined in the accounting standards as:

• A) vendor value.
• B) the amount for which an asset could be exchanged between knowledgeable willing parties in an arm's-length transaction.
• C) trade value.
• D) retail value.

---

Definitions:

Compensating Differential

Additional income or benefits offered to employees for accepting less desirable job conditions.

Employment Discrimination

Unfair treatment of employees or job applicants based on race, gender, age, religion, national origin, disability, or other protected characteristics.

Productive

Being productive describes a scenario where outputs are maximized from a given set of inputs, indicating efficiency in the use of resources.

Productivity of Computer Programmers

A measure of the output (typically software or code) produced by programmers within a certain period of time, often assessed in terms of quality and efficiency.