Inputs, other than quoted prices, that are observable for the asset or liability, either directly or indirectly, are an example of:
A) a Level 1 input.
B) a Level 2 input.
C) a Level 3 input.
D) a Level 4 input.

Question

Quizplus · Accepted Answer

Inputs that are observable for the asset or liability, either directly or indirectly, but are not quoted prices are considered Level 2 inputs. Level 1 inputs are quoted prices for identical assets or liabilities in active markets. Level 3 inputs are unobservable inputs. Level 4 inputs do not exist.

Inputs, Other Than Quoted Prices, That Are Observable for the Asset