When Assessing Fair Value of Level 2 Assets,auditors Will Use

question 2

True/False

When assessing fair value of Level 2 assets,auditors will use information on the sale of identical items in active or inactive markets as a source of audit evidence.

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Definitions:

Texting

The act of sending brief written messages via mobile phone or other electronic devices.

Email

A method of exchanging digital messages over the Internet, used for personal communication, professional correspondence, and marketing.

Emotional Exhaustion

A state of feeling overwhelmingly drained and worn out emotionally, often as a result of prolonged stress or frustration.

Depersonalization

A dissociative experience resulting in a feeling of detachment from one’s thoughts, body, or identity, often as a psychological defense mechanism.