sound value指“合理价值”（the current market value which would induce a willing seller to sell and a willing buyer to buy），具体而言具有以下三种含义：

（1）证券的估计价值。指证券在未能充分经营以凭借市场行情确立市场价值时的估计价值；（2）中长期证券的平价，即票面价值。指持有该证券不以市场出售为目的而是为了投资而持有，其利息及本金分期付款中的每一期所付款项的支付无迟延，且没有任何显示其价值将会降低的出售估价、出价或其他情形；

（3）（保险财产的）实际现金价值或完好价值。在保险单中，指保险财产在未遭损失前瞬间的实际现金价值。尤指火灾保险单中保险财产受损前一刻的实际现金价值（Sound value in a fire insurance policy is the cash value, making an allowance for depreciation due to use, etc., at and immediately preceding the time of the fire. Sound value and actual cash value are synonymous.）。

双语例句：

（1）The sound value of employee services received, measured by reference to the grant date sound value, is recognized over the vesting period as an increase to investment in subsidiary undertakings, with a corresponding credit to equity.

所收取僱员服务之合理价值乃参考于授出日期之合理价值进行计量，于归属期间确认为增加于附属企业之投资，并于权益计入相应之数额。 

（2）By drawing on our diverse capabilities and deploying personnel, capital, and expertise to develop businesses, we strengthen group corporate management and build sound value chains linking upstream through to downstream businesses.

通过运用本集团拥有的各种各样的功能，积极投入人才、资金、专有技术，扶持培养事业，加强集团化经营，力求构筑从上游至下游的良好价值链。

（3）When the sound value of unlisted equity securities cannot be reliably measured because (a) the variability in the range of reasonable sound value estimates is significant for that investment or (b) the probabilities of the various estimates within the range cannot be reasonably assessed and used in estimating sound value, such securities are stated at cost less any impairment losses.

如果非上市的权益性证券的合理价值，由于(a)合理的合理价值估计数范围的变动对于该投资影响重大或(b)符合该范围的多种估计数不能合理评估并用于估计合理价值，而导致合理价值不能可靠计量，则此类股票按成本减去减值损失计量。