Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at the measurement date are an example of:
A) a Level 2 input;
B) a Level 1 input;
C) a Level 3 input;
D) a Level 4 input.

Question

Quizplus · Accepted Answer

Quoted prices in active markets for identical assets or liabilities refers to Level 1 inputs. These are inputs that have observable prices for similar assets or liabilities in active markets, making them highly reliable.

Quoted Prices (Unadjusted) in Active Markets for Identical Assets or Liabilities