QUESTION: 69

There are many subtitles to the application of fair value for cooperate law purposes. For example, some states consider concepts of "entire fairness." There are following aspects of entire fairness EXCEPT:

Absolute fairness
Relative fairness
Competence and thoroughness
Reorganization

Answer(s): D

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QUESTION: 70

in context of Delware block method means value based on expected earnings and/or dividends. It is akin to value based on the income approach in the three basic approaches to value. It may be arrives at by discounted cash flow (DCF), capitalization of earnings, or capitalization of dividends.

Market value
Investment Value
Interest on invested capital
Ownership interest

Answer(s): B

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QUESTION: 71

Fair value is:

A price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participation at the measurement date.
That would be given to purchase an asset or paid to transfer a liability in an orderly transaction between market participation at the measurement date
Market price on valuation date
Quoted price

Answer(s): A,C

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QUESTION: 72

The FASB says that, for "unobservable inputs, " the valuation should include market participant assumptions about risk, even if this adjustment is different to determine. Interestingly, it breaks risk into following categories EXCEPT:

The risk inherent in a particular valuation technique
The risk inherent in inputs of the valuation technique
The explicit risk related to a particular valuation technique
The implicit risk related to a particular valuation technique

Answer(s): C,D

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