Under GAAP, how do you determine the FV of a noncurrent liability? I understand there is always a FV for any asset (can be determined by the FV model). However, I can't really relate to the FV of noncurrent liabilities. According to the FV model, FV of the liability is the exit price, meaning the FV is the price to settle the liability.

In that sense, I can imagine that the FV of current liabilities would usually be the BV of the current liabilities. Does the same go for the noncurrent liabilities such as bonds payable and notes payable?