Under SFAS No. 157, if an asset is valued from and "in-use" perspective, its value is based on its use in combination with other assets.

Question

Quizplus · Accepted Answer

SFAS No. 157 defines fair value as the price that would be received to sell an asset in an orderly transaction between market participants at the measurement date. When an asset is valued from an "in-use" perspective, its value is based on its use in combination with other assets, as opposed to its value in a standalone sale. Therefore, the answer is true - the value of an asset from an in-use perspective is based on its use in combination with other assets.