Question: 1. Topic 820 lists three valuation techniques. List and briefly describe each of these approaches. In the Financial Accounting Standards Board (FASB) Accounting Standards Codification

1. Topic 820 lists three valuation techniques. List and briefly describe each of these approaches. In the Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC), go to Topic 820, Fair Value Measurement

2. The fair value measurement for an asset is based on the highest and best use by market participants. What does this term mean?

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