When a Value Is Assigned to a Property, the Property's

question 18

Multiple Choice

When a value is assigned to a property, the property's ____________ is executed, and the value being assigned is contained in the value parameter.

• A) set accessor
• B) get accessor
• C) return statement
• D) ToValue method

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Definitions:

Fair Value

The approximate value for which an asset or liability might be traded between informed, willing participants in a fair deal.

Grant Date

The date on which an employee is given the option to purchase stock at a set price.

IFRS

International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that are becoming the global standard for the preparation of public company financial statements.

Statement of Financial Position

A financial statement detailing an organization's assets, liabilities, and equity at a specific point in time, known as the balance sheet.