Welcome to Quiz on IFRS 13

Which of the following valuation techniques are not a part of Income Approach

Level 1 inputs consists of the following

______________is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date

If there is a principal market, the price in the principal market must be used even if the prices in the other markets are more advantageous.

Under IFRS 13, fair value is based on the _________________.

IFRS 13 prohibits adjusting the fair value for transaction costs, but it requires such transaction costs to be considered in determining ___________

The highest and best use is determined based on its use and not classification & considers assets use that is:

Highest and best use is determined from the perspective of market participants, even if the entity intends a different use.

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