A measure of value that represents the value obtained- in the past (i.e., the price received in a past transaction) from selling an asset (or broadly an economic resource) or the value surrendered (i.e., the price paid) upon transferring a liability all in an exchange-like transaction, and net of selling/ disposal costs. For an entity holding the asset or liability, this transaction did take place in a principal market (most active market), or in the absence of such a market, in a most advantageous market.
A historical exit value is a net amount, being the difference between selling price and selling costs in the normal course of business in relation to a past transaction:
Exit value = selling price – selling costs
This measure of value belongs to the category of historical measurement bases (in addition to historical cost), where the purchase price is transacted at a certain point in the past.
