Under the market approach, the value of the asset is what the asset can be sold for in an open market within:

Question

Quizplus · Accepted Answer

The market approach requires determining the asset's value in an open market, which implies a reasonable timeframe for a potential buyer to purchase the asset. The timeframe may vary depending on the asset and the market conditions, but it should be a realistic estimate based on the asset's characteristics, availability, and demand. Therefore, option D is the best choice as it acknowledges the need for a reasonable timeframe while avoiding specific time constraints.

Under the Market Approach, the Value of the Asset Is