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The AASB Has Set a Hierarchy of Inputs to Consider

Question 9

Multiple Choice

The AASB has set a hierarchy of inputs to consider in assessing fair value. Which of the following relates to Level 1?


A) quoted prices for identical items in active, liquid and visible markets.
B) unobservable inputs to be used in illiquid situations
C) observable information for similar items in active or inactive markets
D) unobservable inputs to be used in situations where markets don't exist

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