CERTYNEX IFRS ACADEMY

No quoted price exists for the transfer of one of the entity's liabilities, but an identical item, held as an asset by another party, is quoted in an active market. What does the entity do to measure its liability?

It uses this price or adjusts it where necessary.

It ignores this price, because it concerns an asset and not a liability.

It replaces this price with the settlement amount with the creditor.

It waits for a market specific to liabilities to appear before measuring.