Assume that you are trying to measure the fair value of (1) a share traded on the TSX and (2) a manufacturing division for purposes of impairment. Based on IFRS 13 guidance, indicate at which level (i.e. level 1, 2 or 3) in the fair value hierarchy, would the(1) share traded on TSX and (2) the manufacturing division be classified. Briefly explain why.

a) a share traded on the TSX

b) a manufacturing division for purposes of impairment.

Answer rating: 100% (QA)

a A share traded on TSX would have an active share market which ... View the full answer