The measurement of fair value is determined in accordance with AASB 13 Fair Value Measurement. AASB 13 defines fair value as one that has all of the following conditions: I II III IV The price that would be received to sell arI asset or paid to traresfe a liability Yes Yes No Yes Is arl orderly trarsaction between market participarts No Yes No Yes Based or the measurement date. Yes Yes Yes No \begin{array} { | l | l | l | l | l | } \hline & ext { I } & ext { II } & ext { III } & ext { IV } \\hline \begin{array} { l } ext { The price that would be received to sell arI asset or paid to } \ ext { traresfe a liability }\end{array} & ext { Yes } & ext { Yes } & ext { No } & ext { Yes } \\hline ext { Is arl orderly trarsaction between market participarts } & ext { No } & ext { Yes } & ext { No } & ext { Yes } \\hline ext { Based or the measurement date. } & ext { Yes } & ext { Yes } & ext { Yes } & ext { No } \\hline\end{array} The price that would be received to sell arI asset or paid to traresfe a liability Is arl orderly trarsaction between market participarts Based or the measurement date. I Yes No Yes II Yes Yes Yes III No No Yes IV Yes Yes No A) I.B) II.C) III.D) IV.

Question

The measurement of fair value is determined in accordance with AASB 13 Fair Value Measurement. AASB 13 defines fair value as one that has all of the following conditions:    I   II   III   IV   The price that would be received to sell arI asset or paid to   traresfe a liability   Yes   Yes   No   Yes   Is arl orderly trarsaction between market participarts   No   Yes   No   Yes   Based or the measurement date.   Yes   Yes   Yes   No  \begin{array} { | l | l | l | l | l | } \hline  &  	ext { I }  &  	ext { II }  &  	ext { III }  &  	ext { IV } \\hline \begin{array} { l } 	ext { The price that would be received to sell arI asset or paid to } \	ext { traresfe a liability }\end{array}  &  	ext { Yes }  &  	ext { Yes }  &  	ext { No }  &  	ext { Yes } \\hline 	ext { Is arl orderly trarsaction between market participarts }  &  	ext { No }  &  	ext { Yes }  &  	ext { No }  &  	ext { Yes } \\hline 	ext { Based or the measurement date. }  &  	ext { Yes }  &  	ext { Yes }  &  	ext { Yes }  &  	ext { No } \\hline\end{array}  The price that would be received to sell arI asset or paid to   traresfe a liability  ​  Is arl orderly trarsaction between market participarts   Based or the measurement date.  ​  I   Yes   No   Yes  ​  II   Yes   Yes   Yes  ​  III   No   No   Yes  ​  IV   Yes   Yes   No  ​ ​ A)  I.B)  II.C)  III.D)  IV.

Yesenia Ramirez · Accepted Answer

Final Answer : B, Explanation :  AASB 13 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Only option II meets all these conditions.

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