According to AASB 13 Fair Value Measurement Which of the Following

question 31

Multiple Choice

According to AASB 13 Fair Value Measurement which of the following should first be used when measuring the corresponding asset for a liability?

• A)An income approach
• B)The quoted price of the asset in an active market
• C)The quoted price for the asset in a market that is not active
• D)A market approach

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Definitions:

Coordinated Activities

Actions that are planned and executed in sync by different individuals or groups to achieve a common goal or objective.

Management Function

Key activities such as planning, organizing, leading, and controlling that managers perform to efficiently and effectively coordinate the use of resources to achieve organizational goals.

Employees' Morale

The overall attitude, satisfaction, and outlook of employees within an organization, affecting productivity and loyalty.

Management Function

Actions such as planning, organizing, leading, and controlling undertaken by managers to achieve organizational goals.