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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

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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