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fair market value

(Dictionary)

Author:
Harold Averkamp, CPA, MBA

Definition

The amount that would be agreed upon by two independent persons. The amount to be received in the ordinary course of business in an arm’s length transaction.

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About the Author

Harold Averkamp

For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.

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