Define Level 1, Level 2, and Level 3 Inputs

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Level 1 inputs are unadjusted quoted prices in ac?tive markets for identical assets or liabilities. The entity must be able to access this market at the measurement date.

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Level 2 inputs are all inputs other than quoted prices included within Level 1 that are either directly or indirectly observable for the asset or liability.

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Level 3 inputs are unobservable inputs for the asset or liability.

Define Level 1, Level 2, and Level 3 Inputs

Short Answer

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Define Level 1, Level 2, and Level 3 Inputs

Short Answer

Correct Answer:VerifiedShow Answer

Correct Answer:
Verified