Which of the following models is associated with Level 3 in the FASB hierarchy for ascertaining fair value?
A)Mark to market model.
B)Replacement model.
C)Mark to model.
D)Historical cost model.

Question

Quizplus · Accepted Answer

The "Mark to model" is associated with Level 3 in the FASB hierarchy for ascertaining fair value. This model uses financial models and estimates to determine the fair value of assets and liabilities that have limited market activity or observable inputs.

Which of the Following Models Is Associated with Level 3