What type of assets (or liabilities) more readily lend themselves to fair value measurements?

Financial assets and liabilities more readily lend themselves to fair value measurements. Fair value measurements are the price that would be received to sell an asset or transfer a liability between those in the market by a certain date. Financial assets include cash, equity, contracts and other ways the company can bring in income. Liabilities are obligations owed to individuals or other corporations or owing someone cash.

Financial assets and liabilities have been shown to lend themselves more readily to fair value. Financial assets refer to cash, equity in another company and contracts that will result in cash, while financial liabilities refer to contractual obligations, or owing of cash.