Which measurement was agreed as the best basis of measurement by the IASB and the FASB?
A)Historical cost
B)Fair value
C)Exit price
D)Current cost

Question

Quizplus · Accepted Answer

Fair value is the measurement agreed as the best basis of measurement by the IASB and the FASB. It provides relevant and reliable information about an entity's assets and liabilities, as it reflects their current market value.

Which Measurement Was Agreed as the Best Basis of Measurement