The FASB Has Set a Hierarchy of Inputs to Consider

question 45

Multiple Choice

The FASB has set a hierarchy of inputs to consider in assessing fair value.Which of the following relates to Level 3?

• A)Quoted prices for identical items in active,liquid,and visible markets.
• B)Unobservable inputs to be used in illiquid situations.
• C)Observable information for similar items in active or inactive markets.
• D)Unobservable inputs to be used in situations where markets do not exist.

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Definitions:

Political Preferences

Refer to the individual or collective opinions, beliefs, or biases toward specific political parties, policies, or candidates.

Paradox of Voting

A situation where, despite the low probability that a single vote will affect the outcome of an election, individuals still choose to vote.

Majority Voting

A decision-making process where the option that receives more than half of the votes cast by eligible participants wins.

Median Voter

A theoretical concept suggesting that the outcome of a majority vote is likely to reflect the preferences of the median, or middle, voter when preferences are aligned along a single dimension.