Question
Which of the following statements is true regarding the fair value option? Multiple Choice If a company does not elect the fair value option, it
Which of the following statements is true regarding the fair value option?
Multiple Choice
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If a company does not elect the fair value option, it still must disclose the fair value of all its notes receivable.
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A firm may choose the fair value option for either a single financial instrument or a group of financial instruments.
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Under U.S. GAAP, the only option a firm has is to value notes and accounts receivable is net realizable value.
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If a company does not elect the fair value option, it still must disclose the fair value of all its accounts receivable.
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