9- IFRS 13 provides a definition of fair value in which the fair value of an asset is:

A-The replacement cost

B-The selling Price

C- The average of replacement cost and selling price

D- None of the above

10- According to IFRS 13, fair value is:

A- Historical cost

B- Entry price

C- Exit price

D- None of the above

11- In order to apply the concept of fair value, the burden of proof to show that the market is inactive is on:

A- The accountant

B- The auditor

C- The market participants

D- None of the above

12- The theorizing effort that focuses on stockholders interaction with financial reporting in the financial markets place is:

A) Capital market research

B) Behavioral research

C) A and B

D) None of the above