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The International Accounting Standards Board established a fair value hierarchy with three broad levels. This hierarchy describes the types of inputs (organized by categories) that management uses to determine fair value of items such as derivatives. Which of the following is NOT reflective of the categories with respect to inputs related to derivatives? unobservable inputs that reflect management's assumptions the value of similar options that the company may already own observable inputs from the market that confirm management's assumptions quotes from an active market like the TSX

The International Accounting Standards Board established a fair value hierarchy with three broad levels. This hierarchy describes the types of inputs (organized by categories) that management uses to determine fair value of items such as derivatives. Which of the following is NOT reflective of the categories with respect to inputs related to derivatives? unobservable inputs that reflect management's assumptions the value of similar options that the company may already own observable inputs from the market that confirm management's assumptions quotes from an active market like the TSX

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The International Accounting Standards Board established a fair value hierarchy with three broad levels. This hierarchy describes the types of inputs (organized by categories) that management uses to determine fair value of items such as derivatives. Which of the following is NOT reflective of the categories with respect to inputs related to derivatives? unobservable inputs that reflect management's assumptions the value of similar options that the company may already own observable inputs from the market that confirm management's assumptions quotes from an active market like the TSX
Transcribed Image Text:The International Accounting Standards Board established a fair value hierarchy with three broad levels. This hierarchy describes the types of inputs (organized by categories) that management uses to determine fair value of items such as derivatives. Which of the following is NOT reflective of the categories with respect to inputs related to derivatives? unobservable inputs that reflect management's assumptions the value of similar options that the company may already own observable inputs from the market that confirm management's assumptions quotes from an active market like the TSX
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