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Describe the Fair Value Hierarchy as Defined in SFAS No

question 23

Essay

Describe the fair value hierarchy as defined in SFAS No.157.


Definitions:

Crafty

Exhibiting cleverness or ingenuity, especially in deceiving others.

Fairness

A principle concerning equitable and impartial treatment or behavior without favoritism or discrimination.

Honesty

The quality of being fair, truthful, and free from deceit in one's actions and communications.

Business

The practice of making one's living by engaging in commerce.

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