Fair value is by necessity more subjective than the concept of fair market value, because it represents the
dollar value of a business based upon an appraisal of the tangible and intangible assets of the business.

Question

Quizplus · Accepted Answer

Fair value takes into account both tangible and intangible assets, which are subjective in nature and can vary depending on the appraiser's judgment. Fair market value is based solely on market conditions and may be considered more objective.

Fair Value Is by Necessity More Subjective Than the Concept