Multico is a securities dealer whose principal market is with other securities dealers. to take advantage of a perceived opportunity, on december 31, the end of its fiscal year, multico acquired a financial asset in a market other than its principal market for $50,000. at that date, the identical instrument could be sold in multico's principal market for $50,100 with a $200 transaction cost. which of the following amounts would constitute fair value to multico for the financial asset at december 31?

$50,100

Explanation:

Given that

Acquired value of a financial asset other than principal market = $50,000

Sale value of the identical instrument in principal market = $50,100

Transaction cost = $200

For reporting the fair value, we have to exclude the transaction cost i.e $200 and consider that cost which is to be received while exchanging i.e $50,100

This sale value would be equal to the fair value i.e $50,100 should be reported as a fair value

the correct answer is:

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