The price of an asset on which the asset is selling at on the open market in a transaction between a willing buyer and a wiling seller is called:

Question

Quizplus · Accepted Answer

The price of an asset on the open market in a transaction between a willing buyer and a willing seller is considered the fair value of the asset. Absolute value is a mathematical term that refers to the magnitude of a number without considering its sign. Cost value refers to the cost at which an asset was acquired. Material value is not a commonly used term in finance or accounting.

The Price of an Asset on Which the Asset Is