Which of the following is not a feature of SFAS 157?
A) It affects most balance sheet accounts but has little to say about related income statement considerations.
B) The fair value of SFAS No. 157 is an entry value system.
C) It is grounded in the belief that fair values are more relevant for decision-making purposes than historical costing.
D) Prices for both assets and liabilities do not include deductions for transaction costs, except transportation.
Correct Answer:
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