Which of the following accurately refers to SFAS No. 157?

Question

Quizplus · Accepted Answer

SFAS No. 157 requires assets to be valued from both "in-use" and "in-exchange" perspectives, which refers to the fair value measurement of assets and liabilities.

Option A is incorrect as SFAS No. 157 is not an income statement oriented standard.
Option B is incorrect as SFAS No. 157 does not require unrealized monetary holding gains to be included in operating income.
Option D is incorrect as SFAS No. 157 does not address purchasing power gains and losses.

Which of the Following Accurately Refers to SFAS No