Which approach does the FASB's SFAS 157 'Fair value measurements' recommend to be used in determining fair value?
A)The market approach
B)The income approach
C)The cost approach
D)All are possible approaches which the standard suggests could be used to determine fair value

Question

Quizplus · Accepted Answer

SFAS 157 suggests that the market approach, the income approach, and the cost approach are all possible methods to determine fair value, depending on the circumstances and availability of relevant data.

Which Approach Does the FASB's SFAS 157 'Fair Value Measurements