The Fair Value Concept Is Applied When No Strong Market

question 2

True/False

The fair value concept is applied when no strong market exists for a business or it is not possible to identify the value of substantially similar firms.

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Definitions:

Structure

A user-defined data type in programming that allows the grouping of variables under a single name, typically including multiple members of different data types.

Structure's Form

In programming, refers to the defined arrangement and organization of data fields within a structured data type or record.

Symbolic Names

Symbolic names, another term for identifiers, are user-defined names that represent variables, functions, and other entities in a program.