At which date is fair value determined?
A)the measurement date
B)the settlement date
C)the transaction date
D)the exchange date

Question

Quizplus · Accepted Answer

Fair value is determined on the measurement date, which is usually the end of the reporting period or the date on which the asset is acquired or liability is incurred. Settlement date, transaction date, and exchange date are all relevant dates, but they are not the dates on which fair value is determined.

At Which Date Is Fair Value Determined