CVFI Practice Questions - AICPA Certified In The Valuation Of Financial Instruments Exam

Under ASC 820, when there is a principal market for an asset, fair value should be measured using prices in:

The principal market, even if a more advantageous market exists The most advantageous market regardless of access Whichever market produces the highest price for the holder The reporting entity's home-country exchange

Correct Answer:

The principal market, even if a more advantageous market exists

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