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As of 12/31/2020 Bank of America had Stockholders Equity on their Balance Sheet at $216,324...

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Accounting

As of 12/31/2020 Bank of America had Stockholders Equity on their Balance Sheet at $216,324 Milllion; the market capitalization of B of A at year end was $214,324. Is B of A required to write-down their book value to fair value? What authoritative literature addresses this topic? Provide FASB codification.

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