Which of the Following Information Must Be Provided in the Financial

question 11

Multiple Choice

Which of the following information must be provided in the financial report about level 3 fair valuations?

• A)Quantitative information on the inputs used in the model.
• B)A description of the valuation technique used.
• C)If the asset is not being used for its highest and best use why this is the case.
• D)All of the above.

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Definitions:

British Pound

The British Pound is the official currency of the United Kingdom, recognized globally and commonly represented by the symbol £.

Price Unchanged

A situation in which the selling price of a good or service remains the same over a given period.

Financial Account

A component of a country's balance of payments that records all transactions involving the purchase or sale of financial assets.