Question: What was a key challenge in implementing SFAS No . 1 5 7 during the 2 0 0 8 financial crisis?a ) Overvaluation of all

What was a key challenge in implementing SFAS No.157 during the 2008financial crisis?a) Overvaluation of all financial instrumentsb) Difficulty in assessing fair value in distressed marketsc) Excessive reliance on historical cost accountingd) Lack of guidance on cash flow estimations

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