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What is fair value and is a good idea

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Question 1: What is 'fair value'? Is it a good idea?

Question 2: Investors need an up-to-date forward-looking indication of annual performance, implying a focus on the income statement, and lenders need an up-to-date indication of asset values, implying a focus on the balance sheet. Discuss.

Question 3: In the end, for most practical purposes, historical cost is best. Discuss.

Reference no: EM132652441

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