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:

Ruling Class

A social class that holds political, economic, or social power and influence over others in a society.

Subordinate Working Class

A social class that is at the lower end of the socioeconomic hierarchy, often having less power, wealth, and occupational prestige.

Foucault

Michel Foucault was a French philosopher known for his critical studies of social institutions, including psychiatry, medicine, the human sciences, and the prison system.

Power

The capacity or ability to direct or influence the behavior of others or the course of events.