Are the identified measurement bases consistent with fair value reporting?
A) $$\begin{array} { | c | c | }
\hline \text { Current market value } & \text { Net realizable value } \
\hline \text { Yes } & \text { No } \
\hline
\end{array}$$
B) $$\begin{array} { | c | c | }
\hline \text { Current market value } & \text { Net realizable value } \
\hline \text { No } & \text { No } \
\hline
\end{array}$$
C) $$\begin{array} { | c | c | }
\hline \text { Current market value } & \text { Net realizable value } \
\hline \text { Yes } & \text { Yes } \
\hline
\end{array}$$
D) $$\begin{array} { | c | c | }
\hline \text { Current market value } & \text { Net realizable value } \
\hline \text { No } & \text { Yes } \
\hline
\end{array}$$

Question

Are the identified measurement bases consistent with fair value reporting?
A) $$\begin{array} { | c | c | } 
\hline \text { Current market value } & \text { Net realizable value } \
\hline \text { Yes } & \text { No } \
\hline
\end{array}$$
B) $$\begin{array} { | c | c | } 
\hline \text { Current market value } & \text { Net realizable value } \
\hline \text { No } & \text { No } \
\hline
\end{array}$$
C) $$\begin{array} { | c | c | } 
\hline \text { Current market value } & \text { Net realizable value } \
\hline \text { Yes } & \text { Yes } \
\hline
\end{array}$$
D) $$\begin{array} { | c | c | } 
\hline \text { Current market value } & \text { Net realizable value } \
\hline \text { No } & \text { Yes } \
\hline
\end{array}$$

Quizplus · Accepted Answer

Current market value is the most relevant measurement basis for fair value reporting because it reflects the price that would be received in a current transaction between willing parties.

Are the Identified Measurement Bases Consistent with Fair Value Reporting