Cairns argues that under the IASB standards fair value is used to measure assets on initial recognition but subsequent measurement at fair value is more rare.

Question

Quizplus · Accepted Answer

Cairns' argument is accurate because, under IASB (International Accounting Standards Board) standards, while fair value is often used for the initial measurement of assets, subsequent measurements at fair value are less common and depend on the specific standard applicable to the asset in question.

Cairns Argues That Under the IASB Standards Fair Value Is