Inputs and Hierarchy Flashcards

1
Q

What are unobservable inputs?

A

-Inputs reflecting entity’s own assumptions

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Define Level 1 inputs.

A

-UNADJUSTED quoted prices in active markets IDENTICAL to those being valued that the entity can obtain at the measurement date

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Should Level 1 inputs be adjusted for “blockage factor”?

A

-No

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Define Level 3 inputs.

A

-Unobservable inputs

How well did you know this?
1
Not at all
2
3
4
5
Perfectly