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11. The theoretical basis for requiring companies to use fair value accounting to account for investments in equity securities derives primarily from a qualitative characteristic
11. The theoretical basis for requiring companies to use fair value accounting to account for investments in equity securities derives primarily from a qualitative characteristic of reporting financial information from SFAC 8 (previously SFAC 2). The characteristic which best applies to this requirement is
A. faithful representation (reliability in SFAC 2)
B. timeliness
C. consistency
D. relevance
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