Fire-sale price refers to the price received for:
A)an asset that has to be sold at half price
B)a liability that has to be sold at half price
C)an asset that has to be sold immediately
D)a liability that has to be sold immediately

Question

Quizplus · Accepted Answer

Fire-sale price refers to selling an asset at a lower price than its fair market value or quick sell value. It doesn't refer to liabilities, only assets. The reason for selling the asset quickly may be due to a financial emergency or urgent need for cash.

Fire-Sale Price Refers to the Price Received For