Question

Under GASB standards ______.

-only investments in fiduciary and proprietary funds are reported at fair value
-only investments that are being held for sale are reported at fair value
-only external investment pools are reported at fair value
-most investment are reported at fair value, regardless of what fund holds the investment

Answer 1

Under GASB standards, most investments are reported at fair value regardless of the fund that holds them.

Step-by-step explanation:

According to the Governmental Accounting Standards Board (GASB) standards, most investments are reported at fair value, regardless of what fund holds the investment. This means that whether the investments are in fiduciary funds, proprietary funds, or any other governmental fund types, they are generally required to be reported at their fair value. The fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.