Fair value
From Knowledge base
Definition
Fair Value means the amount that a seller would reasonably expect to receive in a current arm's length transaction between a willing buyer and a willing seller, other than a forced or liquidation sale.[1]
References & Notes
- ↑ Definitions used in Cost Accounting Standards 2012 Release; [57 FR 14153, Apr. 17, 1992, as amended at 73 FR 23964, May 1, 2008]
