The FASB's Framework for Measuring Fair Value Doesn't Change the Situations

question 3

True/False

The FASB's framework for measuring fair value doesn't change the situations in which fair value is used under current GAAP.

---

Definitions:

Leniency Bias

A cognitive bias in performance appraisals, where the rater tends to evaluate employees more favorably than their performance justifies, often leading to skewed and unfair assessments.

Forced Distributions

A method of evaluating employees that requires raters to categorize employees.

Central Tendency

A statistical measure that identifies the single value that most accurately represents a set of data, commonly using the mean, median, or mode.

Comparative Evaluation

The process of comparing one set of data, elements, or situations with another to assess its value or performance in relation to a standard or another entity.