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Companies are not required to, but have the option to, value some or all of their...

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Accounting

Companies are not required to, but have the option to, valuesome or all of their financial assets and liabilities at fairvalue. a- True b- false

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Companies are not required to but have the option to value some or all of their financial assets and liabilities at fair value Yes the statement is True FASB allows companies to value those financial assets and liabilities at fair value which are eligible Scope of Eligible Items All entities may elect the fair value option for the following items eligible items a A recognized financial asset and financial liability except those listed below b A firm commitment that would otherwise not be recognized at inception and that involves only financial instruments An example is a forward purchase    See Answer
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