For the purposes of determining the fair value of an asset in an active market,an active market is defined in AASB 138 Intangibles,as one that has all of the following conditions:
I II III IV
The items traded in the market are homogeneous Yes Yes No Yes
Willing buyers and sellers can normally be found No Yes No Yes
Prices are available to the public Yes No Yes Yes
A)I
B)II
C)III
D)IV.

Question

Quizplus · Accepted Answer

An active market is defined as one where the items traded are homogeneous, willing buyers and sellers can normally be found, and prices are available to the public.

For the Purposes of Determining the Fair Value of an Asset