Multiple Choice
When a firm does not adopt the fair value option,it
A) need not disclose the fair value of its long-term notes receivable.
B) still must disclose the fair value of its long-term notes receivable unless the reported value approximates fair value.
C) still must disclose the fair value of its long-term notes receivable if the reported value exceeds fair value.
D) may disclose the fair value of its long-term notes receivable if the reported value exceeds fair value,but such disclosure is not requireD.
Correct Answer:
Verified
Correct Answer:
Verified
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