GAAP Disclosures for Fair Value Measurements Now Require That Fair

question 5

Multiple Choice

GAAP disclosures for fair value measurements now require that fair value measurements using Level 3 inputs include all of the following except

• A)the valuation technique used to measure the fair value
• B)a reconciliation of the Level 3 values to each of the corresponding Level 1 and Level 2 values that were not chosen
• C)a reconciliation of the changes in fair value during the period
• D)a related discussion

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Definitions:

Knowledge Management

The process of creating, sharing, using, and managing the knowledge and information of an organization, to ensure that its knowledge assets are effectively utilized.

Substantive

Concerning the essential elements or practical substance of a matter, rather than formal, procedural, or superficial aspects.

Empirically Proven

Demonstrated to be true or effective through observation or experience rather than theory or pure logic.

Modern Management

Contemporary approaches and practices in managing and leading organizations, emphasizing innovation, flexibility, and embracing change.