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Which of the following is not an important aspect of SFAS No. 157 (FASB ASC...

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Accounting

Which of the following is not an important aspect of SFAS No. 157 (FASB ASC 820)?

Select one:

a. New disclosures of assets and liabilities measured at fair value based on their level in the hierarchy.

b. A requirement that all assets and liabilities are to be measured at their fair value.

c. A new definition of fair value.

d. A fair value hierarchy used to classify the source of information used in fair value measurements (for example, market based or nonmarket based).

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