BC48 The exposure draft proposed that the transaction to sell an asset or transfer a liability takes place in the most advantageous market to which the entity has access. That was different from the approach in Topic 820, which refers to the principal market for the asset or liability or, in the absence of a principal market, the most advantageous market for the asset or liability. The IASB concluded that in most cases the principal market for an asset or a liability will be the most advantageous market and that an entity need not continuously monitor different markets in order to determine which market is most advantageous at the measurement date. That proposal contained a presumption that the market in which the entity normally enters into transactions for the asset or liability is the most advantageous market and that an entity may assume that the principal market for the asset or liability is the most advantageous market.
BC49 Many respondents agreed with the most advantageous mark
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