Financial assets include stocks and bonds. These are fairly simple securities that can often be valued using

Question:

Financial assets include and bonds. These are fairly simple securities that can often be valued using quoted market prices. However, Wall Street has created many complex and exotic securities that do not have quoted market prices. These securities, such as structured investment vehicles (SIVs), must still be valued on the at fair value. Generally accepted accounting principles require that the reporting entity use assumptions in valuing investments when market prices or critical valuation inputs are unobservable.
What are the ethical considerations in making subjective valuations of complex and exotic investments?

Stocks
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