Which of the Following Statements Is Not True Regarding the Hierarchy

Multiple Choice

Which of the following statements is not true regarding the hierarchy of fair value measurements now provided in GAAP?

A) The hierarchy clarified the inputs a company is to use to measure fair value.
B) The valuation method selected must be consistent with the market approach, the income approach, or the cost approach.
C) The three levels of inputs provide defined priorities for sources of available inputs for valuation.
D) The hierarchy eliminates all subjectivity and estimation from the valuation process.