fair market value 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.
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.
Harold Averkamp (CPA, MBA) has worked as a university accounting instructor, accountant, and consultant for more than 25 years. He is the sole author of all the materials on AccountingCoach.com. Read more about the author.