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In the FASB Hierarchy of Inputs to Consider for Assessing

question 11

Multiple Choice

In the FASB hierarchy of inputs to consider for assessing fair value,which is associated with Level 1?

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Definitions:

Primary Datum

The main reference point or plane used in dimensioning and tolerancing from which other measurements are based.

Secondary

Pertaining to an item or process that comes after the primary or main stage, often providing support or additional functionality.

Tertiary Datums

Reference points, lines, or surfaces on an object used in the hierarchical system of geometric dimensioning and tolerancing, serving as a secondary or third level of datum reference.

Target Points

Specific locations defined on a part or in a design intended to align, measure, or reference during manufacturing or assembly processes.

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