Which of the Following Models Is Associated with Level 3

question 74

Multiple Choice

Which of the following models is associated with Level 3 in the FASB hierarchy for ascertaining fair value?

• A)Mark to market model.
• B)Replacement model.
• C)Mark to model.
• D)Historical cost model.

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Definitions:

Income Distribution

The way in which a nation’s total GDP is spread amongst its population, impacting the standard of living and degree of inequality among the populace.

Poorest Quintile

The segment of the population that falls in the bottom 20% in terms of income distribution.

Income

Income is the money received, especially on a regular basis, for work or through investments.

Classified As Poor

A designation for individuals or households whose income falls below the poverty line, making it difficult to meet basic life needs.