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Determining fair value by calculating the present value of future cash flows is a level 1 type of input.- False
The projected price at which an object is purchased or sold when the buyer and seller voluntarily agree on a price is known as fair value. An individual or organization may look at real market transactions for comparable assets, project the asset's predicted earnings, and calculate the cost to replace the asset in order to ascertain the fair value of a good or financial investment.
Market value is the price an item is sold for on the open market, while fair value is a measurement of an asset's value. The process of fair value accounting involves valuing a company's assets and liabilities at their current market value.
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