A company may elect to use the fair value option for a single note receivable or for all notes receivable.

Name: A company may elect to use the fair value option for a single note receivable or for all notes receivable.
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Question

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Under accounting standards, companies have the option to measure certain financial assets and liabilities at fair value, including the choice to apply this fair value option either to individual instruments or to categories of instruments, such as all notes receivable.

A Company May Elect to Use the Fair Value Option