The SFAS No 157 FASB ASC 820)fair value hierarchy contains
A)Two level
B)Three levels
C)Four levels
D)Five levels

Question

Quizplus · Accepted Answer

The SFAS No 157 (FASB ASC 820) fair value hierarchy contains three levels: Level 1, Level 2, and Level 3. Level 1 inputs are quoted prices in active markets for identical assets or liabilities that the entity can access at the measurement date. Level 2 inputs are observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets or liabilities, inputs that are corroborated by market data or other means, or inputs that are derived principally from, or corroborated by, observable market data by correlation or other means. Level 3 inputs are unobservable.

The SFAS No 157 FASB ASC 820)fair Value Hierarchy Contains