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.