Which one is false for SFAS No. 157? SFAS No. 157 defines fair value as the price
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Which one is false for SFAS No. 157?
SFAS No. 157 defines "fair value" as the price that would be received to sell an asset in a transaction between market participants at the measurement date
SFAS No. 157 provides a fair value hierarchy
SFAS No. 157 requires disclosures about the fair value measurements in a tabular format
SFAS No. 157 requires firms to use the present value of future cash flows when fair value is not available
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