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Question 6 Which of the following is FALSE regarding book value and fair value? Fair value is a type of book value that is used

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6

Which of the following is FALSE regarding book value and fair value?

Fair value is a type of book value that is used for certain assets.

Book value is the amount at which an account is stated on financial statements.

Fair value is the amount at which something may be sold in an orderly transaction.

Fair value is the most relevant valuation for all assets.

All of these are true.

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