Explain THREE problems associated with the reliability and measurement of fair values.

Information produced using fair value as the measurement base is considered:   I. More neutral.   II. More relevant.   III. More comparable.   Select one:   A. II and III.   B. I and III.   C. I, II and III.   D. I and II.

Which of the following aspects of a cost-benefit study would have the greatest uncertainty as to its precise value?a. the tangible costsb. the intangible costsc. the tangible benefitsd. the intangible benefitse. none of the above because they are equally precise

Explain how materiality differs for failure to follow GAAP and for lack of independence.

Explain how materiality differs for failure to follow GAAP and for lack of independence.  (Better explanation)

define the following relevance, reliability,comparability, verifiability and understandability

What is the primary difference between the APT and the CAPM?

For each of the following pairs of information characteristics, give an example of a situation in which one of the characteristics may be sacrificed in return for a gain in the other. Relevance and faithful representation.  Relevance and consistency.  Comparability and consistency.  Relevance and understandability.

What are the key elements of the definition of ‘fair value’? Explain the effects of inclusion of each element in the definition.

Within the context of valuation methodology and disclosure, discuss the concepts of “Relevance” and “Representational Faithfulness”. In what circumstances might you have one, but not the other, or both? Could one have neither? Provide and discuss some examples of each scenario, as well as the risk and ramifications