+Fair Value is the estimated price an asset or liability would fetch in an orderly transaction between willing, knowledgeable parties. It's a key concept in [Accounting](/wiki/accounting) and financial reporting, reflecting market conditions rather than subjective values. This valuation principle guides the reporting of many items on a [Balance Sheet](/wiki/balance_sheet).
+## See also
+- [Market Value](/wiki/market_value)
+- [Valuation](/wiki/valuation)
+- [Asset](/wiki/asset)
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