Which of the following was identified as a benefit when Australia accepted the international harmonisation of its accounting standards?

Group of answer choices

A. International comparability of financial statements would increase

B. Reporting costs would be lowered.

C. All of the above

D. The cost of capital would decrease

Which of the following is not part of the definition of fair value under AAASB 13?

Group of answer choices

A. Price received to sell an asset

B. Price paid to sell a liability.

C. At measurement date.

D. Knowledgeable and willing parties