Identify the measurement base described in each definition, then indicate whether it applies to U.S. ...

Identify the measurement base described in each definition, then indicate whether it applies to U.S. GAAP, IFRS, or both.

DefinitionMeasurement BaseU.S. GAAP or IFRS or both
The amount of cash (or equivalent) to be received in exchange for an asset, less the direct costs of disposal. In the case of a liability, it is the amount of cash (or equivalent) expected to be paid to liquidate the obligation, including any direct costs of liquidation.
The amount of cash (or equivalent) that the firm would receive by selling the asset in an orderly liquidation.
The amount of cash (or equivalent) that the firm paid to acquire the asset. In the case of a liability, this is the amount that the firm received when it incurred the obligation.
The amount of cash (or equivalent) that would be required if the firm acquired the asset currently.