Question: Explain what the FASB means by: Level 1 inputs Level 2 inputs Level 3 inputs

Explain what the FASB means by:

Level 1 inputs 

Level 2 inputs 

Level 3 inputs

Step by Step Solution

★★★★★

3.31 Rating (154 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Introductory Accounting Questions!

Q:

An organization's most important resource is its _ _ _ _ resources. a . material b . information c . human d . technical e . financial

Q:

M3-21 Preparing Financial Statements from a Trial Balance The following accounts are taken from Equilibrium Riding, Inc., a company that specializes in occupational therapy and horseback riding...

Q:

Keshk, Walied; Lu, HungYuan Richard; Mande, Vivek (2020). How have US banks adopted the Financial Accounting Standards Board's Level 3 fair value disclosure rules? Accounting & Finance 60, April...

Q:

Need help with 20 multiple choice questions for graduate level Accounting Theory NAME: Section: (WEB or WEB 2) ACT 5713 - Accounting Theory Exam One - Chapters 1 - 7 Fall 2015 100 Points...

Q:

1. An item that is either unusual or infrequent (not both) is classified as a non-operating item in the Other Gains/Losses section of the income statement. As this may be a nonrecurring item, it is...

Q:

1. An item that is either unusual or infrequent (not both) is classified as a non-operating item in the Other Gains/Losses section of the income statement. As this may be a nonrecurring item, it is...

Q:

1. An item that is either unusual or infrequent (not both) is classified as a non-operating item in the Other Gains/Losses section of the income statement. As this may be a nonrecurring item, it is...

Q:

From the Kindergarten math standard " NY-K.CC.1 Count to 100 by ones and by tens" what would be a good example for the unit in relation to the standards? How can I make 3 Days age-appropriate lesson...

Q:

DATABEAM is a new company that develops computer games for the corporate marker based on politics and avancement in a large Fortune 500 company. Their company has the following positions...

Q:

Assignment 1 ( Ch 1,2,3 and 8) MGMT2001 - Individual assignment (15 points) Due Date: Mar 05, 2024 (Minimum 10 pages content, APA format) Professor: Faisal Saeed Congratulations! you have been...

Q:

Diethyl malonate is prepared commercially by hydrolysis and esterification of ethyl cyanoacetate.

Q:

stion 3 stion 4 astion 5 estion 6 uestion 7 When economists state that people respond to economic incentives, who are the people that respond to incentives? O customers only O firms only O customers...

Q:

The CGMA White Paper highlights the role of CFOs in shaping business models. Why is financial leadership critical in business model governance? How can finance professionals ensure that a company's...

Q:

Homicide is the leading cause of workplace fatalities in five states, the nations capitol, and New York City. Street-front shops in high-crime areas, convenience stores, and taxicabs are particularly...

Q:

What is a financial option what is the single most important characteristic of an option? MINI CASE Assume that you have just been hired as a financial analyst by Triple Trice Inc., a mid-sized...

Q:

Options have a unique set of terminology. Define the following terms: (1) Call option; (2) Put option; (3) Exercise price; (4) Striking, or strike, price; (5) Option price; (6) Expiration date; (7)...

Q:

Consider Triple Trice's call option with a $25 strike price. The following table contains historical values for this option at different stock prices: Create a table which shows (a) Stock price, (b)...

Q:

RSA ALGORITHM about

Q:

The most common use of destructors is to deallocate memory that was allocated for the object by the constructorTrueFalse

Q:

The most important aspect of the Web is the: Images Scripts Hypertext link, hyperlink, link Frames