SFAS 159 Requires That Once Fair Value Has Been Adopted

question 62

True/False

SFAS 159 requires that once fair value has been adopted for a class of securities, the company can reverse the option after one year.

---

Definitions:

Courtesy and Etiquette

The practice of showing respect, good manners, and politeness in social or professional settings.

Virtual Meetings

Online gatherings using videoconferencing or teleconferencing tools, enabling participants to interact from different locations.

Dispersed Participants

Individuals involved in an activity who are geographically separated or located in various places.

Employee Fatigue

The state of physical or mental exhaustion among workers, often resulting from excessive workloads, stress, or lack of rest.