Fair Value Framework F03-15b

When might the transaction price not be considered fair value?

The transaction price may not be fair value (exit price) if:

1. The transaction is between related parties
2. The transaction takes place when the seller is under duress
3. The unit of account for the transaction price is different from the unit of account that would be used to measure the asset or liability at fair value.
4. The market in which the transaction price takes place is different from the principal market