Which of the Following Is Not an Important Aspects of SFAS

question 14

Multiple Choice

Which of the following is not an important aspects of SFAS No.157 FASB ASC 820) ?

• A)A new definition of fair value.
• B)A requirement that all assets and liabilities are to be measured at their fair value.
• C)A fair value hierarchy used to classify the source of information used in fair value measurements for example,market based or nonmarket based).
• D)New disclosures of assets and liabilities measured at fair value based on their level in the hierarchy.

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Definitions:

Intangible Resource

Assets that cannot be physically touched or held, such as brand reputation, intellectual property, or organizational culture.

Customer Service

The assistance and support provided by a company to those people who buy or use its products or services.

Management Function

encompasses the processes or activities that managers perform to plan, organize, lead, and control operations within an organization to achieve specified objectives.

Management Team

A group of individuals who manage and make decisions for a specific area of a company or organization.