Which of the Following Is the Definition of Exit Price

question 12

Multiple Choice

Which of the following is the definition of exit price per AASB 13?

• 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 (eg a forced liquidation or distress sale).
• B) The amount for which an asset could be exchanged, or a liability settled, between knowledgeable, willing parties in an arm's length transaction
• 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 price that would be received to sell an asset or paid to transfer a liability.

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Definitions:

Somatoform

A category of mental disorders characterized by physical symptoms that suggest illness or injury, but cannot be fully explained by a medical condition.

Physician

A professional who practices medicine, which involves promoting, maintaining or restoring health through the study, diagnosis, prognosis, and treatment of disease, injury, and other physical and mental impairments.

Physical Symptoms

Observable or tangible signs of a condition or disease, such as pain, fever, or a rash, in contrast to psychological symptoms.

Conversion Disorder

A mental condition in which a person experiences neurological symptoms, such as blindness or paralysis, without a physical cause, believed to result from psychological stress or conflict.